TSXV:OIII | OTCQX:OIIIF - O3 Mining
TORONTO, Aug. 13,
2024 /CNW/ - O3 Mining Inc. (TSXV: OIII)
(OTCQX: OIIIF) ("O3 Mining" or the
"Corporation") is pleased to congratulate its
largest shareholder Osisko Mining Inc. ("Osisko") on
its recently announced transaction with a 100% owned Canadian
subsidiary of Gold Fields Limited ("Gold Fields") whereby
Gold Fields will acquire all of the issued and outstanding shares
of Osisko (the "Transaction").
Osisko holds 18,291,854 commons shares which represents
20.7% of the Corporation and is the Corporation's largest
shareholder. O3 Mining looks forward to working together with Gold
Fields following the completion of the Transaction.
Osisko Mining and Gold Fields Transaction
Osisko has entered into a definitive arrangement agreement dated
August 12, 2024 pursuant to which
Gold Fields, has agreed to acquire all of the issued and
outstanding common shares of Osisko at a price of C$4.90 per Share (the "Consideration"), in
an all-cash transaction valued at approximately C$2.16 billion on a fully diluted basis. The
Consideration represents an approximate 55% premium to the 20‐day
volume weighted average trading price per Share on the Toronto
Stock Exchange for the period ending August
9, 2024, being the last trading day prior to the
announcement of the Transaction by Osisko. For more information,
see the news release of Osisko dated August
12, 2024 and entitled "Gold Fields to Acquire Osisko Mining
for C$2.16 Billion", a copy of which
is also available on SEDAR+ (www.sedarplus.ca) under Osisko's
issuer profile
About Osisko
Osisko is a mineral exploration company focused on the
acquisition, exploration, and development of precious metal
resource properties in Canada.
Osisko holds a 50% interest in the high-grade Windfall gold deposit
located between Val-d'Or and
Chibougamau in Québec and holds a
50% interest in a large area of claims in the surrounding
Urban Barry area and nearby
Quévillon area (over 2,300 square kilometers).
About Gold Fields Limited
Gold Fields Limited is a globally diversified gold
producer with nine operating mines in Australia, South
Africa, Ghana, Chile and Peru and one project in Canada. Gold Fields shares are listed on the
Johannesburg Stock Exchange (JSE) and its American depositary
shares trade on the New York Exchange (NYSE).
About O3 Mining Inc.
O3 Mining Inc. 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 and expertise of a team of industry leaders as it grows
towards becoming 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 (107,000 hectares) in Québec. O3 Mining trades on
the TSX Venture Exchange (TSXV: OIII) and OTC Markets (OTCQX:
OIIIF). The Corporation is focused on delivering superior returns
to its shareholders and long-term benefits to its stakeholders.
Further information can be found on our website at
https://o3mining.com.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within
the meaning of the applicable Canadian securities legislation that
is based on expectations, estimates, projections, and
interpretations as at the date of this news release.
Forward-looking statements including, but are not limited to,
statements with respect to the proposed Transaction and the terms
of thereof and the impact on O3 Mining. Any statement that involves
discussions with respect to predictions, expectations,
interpretations, beliefs, plans, projections, objectives,
assumptions, future events or performance (often but not always
using phrases such as "expects", or "does not expect", "is
expected", "interpreted", "management's view", "anticipates" or
"does not anticipate", "plans", "budget", "scheduled", "forecasts",
"estimates", "believes" or "intends" or variations of such words
and phrases or stating that certain actions, events or results
"may" or "could", "would", "might" or "will" be taken to occur or
be achieved) are not statements of historical fact and may be
forward-looking information and are intended to identify
forward-looking information. Except for statements of historical
fact relating to the Corporation, certain information contained
herein constitutes forward-looking statements. Forward-looking
information is based on estimates of management of the Corporation,
at the time it was made, involves known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the companies to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking information. Such
factors include, among others, risks relating to the ability of the
parties to complete the Transactions in accordance with the terms
currently contemplated or timing currently expected, or at all, the
impact of the Transaction on O3 Mining, and general developments,
market and industry conditions. Although the forward-looking
information contained in this news release is based upon what
management believes, or believed at the time, to be reasonable
assumptions, the parties cannot assure shareholders and prospective
purchasers of securities that actual results will be consistent
with such forward-looking information, as there may be other
factors that cause results not to be as anticipated, estimated or
intended, and neither the Corporation nor any other person assumes
responsibility for the accuracy and completeness of any such
forward-looking information. The Corporation believes that this
forward-looking information is based on reasonable assumptions, but
no assurance can be given that these expectations will prove to be
correct and such forward-looking statements included in this news
release should not be unduly relied upon. The Corporation does not
undertake, and assumes no obligation, to update or revise any such
forward-looking statements or forward-looking information contained
herein to reflect new events or circumstances, except as may be
required by law. These statements speak only as of the date of this
news release.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release. No stock exchange, securities
commission or other regulatory authority has approved or
disapproved the information contained herein.
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SOURCE O3 Mining Inc.