Prism Resources sells 7.5% royalty on Ontario mining properties to Agnico for $5M cash.

Prism Resources Inc. has agreed to sell its 7.5% net profit interest royalty on certain Ontario mining properties, including Agnico Eagle's Aurora and Sunday Lake sites, to Agnico Eagle Mines Limited for $5 million in cash. The transaction, recommended by Prism's board and a special committee, requires shareholder and TSX Venture Exchange approval. Proceeds will be used to cover working capital, repay debts, pay management fees, and issue shares. The deal involves related parties and includes additional payments to holders of promissory notes linked to the royalty proceeds. Shareholders will vote on the transaction at an upcoming meeting after receiving detailed information.