
O3 Mining Inc. (TSX-V: OIII) (OTCQX: OIIIF) announces that it has sold 6,492,200 common shares of Osisko Metals Incorporated to Osisko Mining Inc., a control person of the Corporation, for gross proceeds of $2,045,043 (or $0.315 per share, being the prevailing market price).
The Transaction is being disclosed by way of a news release as it is considered to be a “related party transaction” of the Corporation for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions since Osisko Mining holds greater than 10% of the issued and outstanding common shares of the Corporation. The Corporation is relying on exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. The Corporation is exempt from the formal valuation requirement in Section 5.4 of MI 61-101 in reliance on Section 5.5(a) of MI 61-101 as the fair market value of the transaction, is not more than the 25% of the Corporation’s market capitalization, as well as the securities of the Corporation not trading on any “specified markets” set forth in MI 61-101. Additionally, the Corporation is exempt from minority shareholder approval requirement in Section 5.6 of MI 61-101 in reliance on section 5.7(b) of MI 61-101 as the fair market value of the transaction is not more than the 25% of the Corporation’s market capitalization.
About O3 Mining Inc.
O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being a gold producer with several multi-million-ounce deposits in Québec.
O3 Mining is well-capitalized and owns a 100% interest in all its properties (66,000 hectares) in Québec.
Eldorado Gold Corporation (TSX: ELD) (NYSE: EGO) is pleased to announce the discovery of four new hi... READ MORE
First Atlantic Nickel Corp. (TSX-V: FAN) (OTCQB: FANCF) (FSE: P21) is pleased to announce pos... READ MORE
McEwen Inc. (NYSE: MUX) (TSX: MUX) announces new drill results from the Gold Bar Mine Complex in th... READ MORE
Aya Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF) is pleased to provide its 2026 outlook and pres... READ MORE
Highlander Silver Corp. (TSX: HSLV) is pleased to announce that Mr. Eric Sprott, an arm’s l... READ MORE