The Prospector News

O3 Mining Announces Share Disposition

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

O3 Mining Announces Share Disposition

 

 

 

 

 

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.

 

Posted July 25, 2022

Share this news article

MORE or "UNCATEGORIZED"


Lode Gold Closes $1.51 Million Upsized Private Placement

Lode Gold Resources Inc. (TSX-V: LOD) (OTCQB: LODFF) is pleased t... READ MORE

September 6, 2025

Pacific Ridge Closes First Tranche of Brokered Private Placement for Gross Proceeds of C$2.7 Million

Pacific Ridge Exploration Ltd. (TSX-V: PEX) (OTCQB: PEXZF) (FSE: ... READ MORE

September 6, 2025

Purepoint Uranium Closes Final Tranche of $6 Million Private Placement

Purepoint Uranium Group Inc. (TSX-V: PTU) (OTCQB: PTUUF) announce... READ MORE

September 6, 2025

New Found Gold and Maritime Enter into Definitive Agreement to Combine; Combination Creates an Emerging Canadian Gold Producer

New Found Gold Corp. (TSX-V: NFG) (NYSE American: NFGC) and Marit... READ MORE

September 5, 2025

ELEMENTAL ALTUS AND EMX TO MERGE TO CREATE NEW MID-TIER GOLD FOCUSED ROYALTY COMPANY ELEMENTAL ROYALTY CORP.

Elemental Altus Royalties Corp. (TSX-V: ELE) (OTCQX: ELEMF) and E... READ MORE

September 5, 2025

Copyright 2025 The Prospector News