Cadillac Mines Corporation (TSX: CADY) completed its acquisition of the Larder Property from Pan American Silver Corp. on September 15, 2026, according to a press release from the company.
The transaction, initially announced on May 7, 2026, was settled through the issuance of 15,000,000 common shares to Pan American. When combined with shares acquired during Cadillac Mines' initial public offering, Pan American now holds approximately 6% of the company's outstanding common shares. Goodmans LLP served as legal counsel for Cadillac Mines on the deal.
The Larder Property spans more than 6,400 hectares along the Larder Lake Cadillac Break, adjacent to Cadillac Mines' Kerr-Addison property. It encompasses three mineral deposits — Bear, Cheminis, and Fernland.
According to historical estimates included in the announcement, the Larder Property contains indicated gold mineral resources of 388,000 ounces across 5.1 million tonnes grading 2.39 grams per tonne gold, and inferred resources of 933,000 ounces across 6.9 million tonnes grading 4.21 grams per tonne. The company cautioned that these historical resource estimates have not been verified by a qualified person and should not be relied upon as current resources under Canadian National Instrument 43-101 standards.
Following the acquisition, Cadillac Mines' total land position exceeds 27,000 hectares in the Abitibi region.
Rick Howes, chief executive officer of Cadillac Mines, said the company plans to deploy drill rigs to the Larder Property in the near term. The company currently operates 11 active drill rigs.
