O3 Mining Announces Normal Course Issuer Bid
O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) has announced a normal course issuer bid (NCIB) to purchase and cancel up to 8,252,733 of its common shares, representing approximately 10% of the company's 'public float'. The TSX Venture Exchange has approved the NCIB, which will run from October 23, 2024, to October 22, 2025. O3 Mining has engaged CIBC World Markets Inc. as its agent for the NCIB transactions.
The company believes that its shares are currently trading at a price that does not adequately reflect their value. Management views the share repurchase as a desirable use of available cash that will enhance shareholder value. The purchase and payment for the shares will be made at market price through the Exchange facilities, and all repurchased shares will be cancelled.
O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ha annunciato un'offerta pubblica di acquisto normale (NCIB) per acquistare e annullare fino a 8.252.733 delle sue azioni ordinarie, che rappresentano circa il 10% del 'float' pubblico della società. La TSX Venture Exchange ha approvato l'NCIB, che si svolgerà dal 23 ottobre 2024 al 22 ottobre 2025. O3 Mining ha incaricato CIBC World Markets Inc. come suo agente per le transazioni NCIB.
La società ritiene che le sue azioni siano attualmente trattate a un prezzo che non riflette adeguatamente il loro valore. La direzione considera il riacquisto delle azioni un uso desiderabile della liquidità disponibile che aumenterà il valore per gli azionisti. L'acquisto e il pagamento delle azioni saranno effettuati al prezzo di mercato attraverso le strutture della Borsa, e tutte le azioni riacquistate saranno annullate.
O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ha anunciado una oferta pública de adquisición normal (NCIB) para comprar y cancelar hasta 8,252,733 de sus acciones ordinarias, lo que representa aproximadamente el 10% del 'float' público de la empresa. La TSX Venture Exchange ha aprobado la NCIB, que se llevará a cabo desde el 23 de octubre de 2024 hasta el 22 de octubre de 2025. O3 Mining ha contratado a CIBC World Markets Inc. como su agente para las transacciones de NCIB.
La empresa considera que sus acciones están actualmente cotizando a un precio que no refleja adecuadamente su valor. La dirección ve el recompra de acciones como un uso deseable de la liquidez disponible que aumentará el valor para los accionistas. La compra y el pago de las acciones se realizarán al precio de mercado a través de las instalaciones de la bolsa, y todas las acciones recompradas serán canceladas.
O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF)는 최대 8,252,733주의 보통주를 매입 및 취소하기 위한 정상적 발행자 입찰(NCIB)을 발표했습니다. 이는 회사의 '공공 유통주식'의 약 10%에 해당합니다. TSX Venture Exchange는 2024년 10월 23일부터 2025년 10월 22일까지 진행될 NCIB를 승인했습니다. O3 Mining은 NCIB 거래의 대리인을 CIBC World Markets Inc.로 지정했습니다.
회사는 현재 자사의 주식이 그 가치를 적절히 반영하지 못하고 있다고 생각합니다. 경영진은 주식 재매입이 주주 가치를 증대시키는 바람직한 현금 사용이라고 보고 있습니다. 주식의 구매 및 지불은 거래소 시설을 통해 시장 가격으로 이루어지며, 재매입된 모든 주식은 취소됩니다.
O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) a annoncé une offre publique de rachat normale (NCIB) pour acheter et annuler jusqu'à 8 252 733 de ses actions ordinaires, représentant environ 10 % de la 'flottabilité' publique de la société. La TSX Venture Exchange a approuvé la NCIB, qui se déroulera du 23 octobre 2024 au 22 octobre 2025. O3 Mining a mandaté CIBC World Markets Inc. en tant qu'agent pour les transactions NCIB.
La société estime que ses actions se négocient actuellement à un prix qui ne reflète pas adéquatement leur valeur. La direction considère le rachat d'actions comme un usage souhaitable de la liquidité disponible qui augmentera la valeur pour les actionnaires. L'achat et le paiement des actions seront effectués au prix du marché par le biais des installations de la Bourse, et toutes les actions rachetées seront annulées.
O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) hat ein reguläres Angebot zur Rücknahme eigener Aktien (NCIB) angekündigt, um bis zu 8.252.733 seiner Stammaktien zu kaufen und zu annullieren, was etwa 10% der 'öffentlichen Aktien' des Unternehmens entspricht. Die TSX Venture Exchange hat die NCIB genehmigt, die vom 23. Oktober 2024 bis zum 22. Oktober 2025 laufen wird. O3 Mining hat CIBC World Markets Inc. als seinen Agenten für die NCIB-Transaktionen engagiert.
Das Unternehmen ist der Ansicht, dass seine Aktien derzeit zu einem Preis gehandelt werden, der deren Wert nicht ausreichend widerspiegelt. Das Management sieht den Aktienrückkauf als wünschenswerte Verwendung von verfügbarem Kapital, die den Wert für die Aktionäre steigern wird. Der Kauf und die Zahlung für die Aktien erfolgen zum Marktpreis über die Börsenplattformen, und alle zurückgekauften Aktien werden annulliert.
- Approval to repurchase up to 10% of public float shares
- Potential to enhance shareholder value through share buyback
- Company views current share price as undervalued
- Reduction in cash reserves due to share repurchase program
TSXV:OIII | OTCQX:OIIIF - O3 Mining
The Corporation has received approval from the Exchange to commence the NCIB on October 23, 2024 and continue to October 22, 2025, or earlier in the event that the Corporation has acquired the maximum number of Shares that may be purchased under the NCIB. The Corporation may also terminate the NCIB earlier if it feels it is appropriate to do so.
The NCIB will be made through the facilities of the Exchange and the purchase and payment for the Shares will be made in accordance with the Exchange requirements at the market price of the Shares at the time of acquisition. All Shares purchased by the Corporation under the NCIB will be cancelled. The Corporation has not repurchased any of its Shares on the Exchange in the previous 12 months.
The Corporation has engaged CIBC World Markets Inc. to act as its agent to conduct the NCIB transactions.
Management believes that the Shares have been trading in a price range which does not adequately reflect their value and that the purchase of the Shares under the NCIB is in the best interests of the Corporation, a desirable use of its available cash, and will enhance shareholder value in general.
To the knowledge of the Corporation, no director, senior officer or other insider of the Corporation currently intends to sell any shares under the NCIB.
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
O3 Mining is well-capitalized and owns a
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 include, but are not limited to, statements with respect to the NCIB, the intention of the Corporation to purchase Shares under the NCIB, the beliefs of management regarding the value of the Shares, the Corporation becoming a gold producer with several multi-million-ounce deposits in
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.
FAQ
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