MARATHON, ON, Sept. 14, 2026 /CNW/ — Canada Growth Fund Inc. (“CGF“) announced today its commitment to invest ~ $140 million in Generation Mining Limited (TSXV: GENM) (“GENM“) through an ~ $90 million investment in common shares of GENM as part of a broader equity financing of $200 million, and a $50 million investment in a convertible note, as part of a $100 million offering of convertible notes to be issued by GENM on a private placement basis (collectively, the “Transaction“). The Transaction will support the construction of the Marathon Project in Northwestern Ontario (the “Project“), one of Canada’s fully permitted, shovel-ready critical minerals projects.
Through its investment, CGF is helping unlock significant private capital for a strategically important Canadian critical minerals project by anchoring the equity financing required to advance the Project and access committed lending facilities. CGF’s support progresses the Project toward a final investment decision and construction.
The Project is expected to be a significant Canadian source of both copper and palladium. Together, these metals have the potential to strengthen domestic supply and support resilient North American supply chains, while enhancing the Project’s economic profile and contribution to transportation-sector emissions reductions
“Canada has the minerals the world wants, and our government is focused on getting major projects built that unlock those resources and get them to markets at home and abroad. This investment by the Canada Growth Fund will help unlock private capital for the Marathon Project, a fully permitted, shovel-ready critical minerals project. By advancing a new Canadian source of copper and palladium, we are strengthening North American supply chains, supporting good jobs in Northwestern Ontario, and building the projects that will power Canada’s economy for generations to come.” The Honourable Tim Hodgson, Minister of Energy and Natural Resources
“CGF was established to unlock strategic projects across Canada by deploying capital through specialized financial instruments that mobilize private investment into strategically important assets,” said Yannick Beaudoin, President and Chief Executive Officer of Canada Growth Fund Investment Management Inc. (“CGFIM“). “Building on its investment expertise, CGFIM has helped support the Marathon Project and is advancing a new Canadian source of copper and palladium, strengthening critical minerals supply chains and supporting long-term economic growth.”
