O3 Mining Further Consolidates Presence in the Casa Berardi Trend by Acquiring the Desjardins Property
O3 Mining Inc. (TSXV: OIII; OTCQX: OIIIF) has announced a proposed transaction to acquire the Desjardins property from SOQUEM Inc., adjacent to O3's Kinebik Project in the Casa Berardi trend. This acquisition aligns with O3 Mining's core exploration strategy and further consolidates its presence in the area. The transaction involves O3 Mining acquiring 100% of SOQUEM's rights to the Desjardins Property for $100,000, to be satisfied by issuing 98,441 common shares of O3 Mining at approximately $1.016 per share. The deal is subject to TSX Venture Exchange approval, and the issued shares will have a four-month hold period. This move follows O3 Mining's previous consolidation efforts in the Casa Berardi trend, announced in December 2023.
O3 Mining Inc. (TSXV: OIII; OTCQX: OIIIF) ha annunciato una proposta di transazione per acquisire la proprietà Desjardins da SOQUEM Inc., adiacente al Progetto Kinebik di O3 nella tendenza Casa Berardi. Questa acquisizione si allinea con la strategia di esplorazione principale di O3 Mining e consolida ulteriormente la sua presenza nell'area. La transazione prevede che O3 Mining acquisisca il 100% dei diritti di SOQUEM sulla Proprietà Desjardins per $100.000, che saranno soddisfatti emettendo 98.441 azioni ordinarie di O3 Mining a circa $1,016 per azione. L'affare è soggetto all'approvazione della Borsa TSX Venture e le azioni emesse avranno un periodo di blocco di quattro mesi. Questa mossa segue gli sforzi di consolidamento precedenti di O3 Mining nella tendenza Casa Berardi, annunciati a dicembre 2023.
O3 Mining Inc. (TSXV: OIII; OTCQX: OIIIF) ha anunciado una transacción propuesta para adquirir la propiedad Desjardins de SOQUEM Inc., adyacente al Proyecto Kinebik de O3 en la tendencia de Casa Berardi. Esta adquisición se alinea con la estrategia principal de exploración de O3 Mining y consolida aún más su presencia en el área. La transacción implica que O3 Mining adquiere el 100% de los derechos de SOQUEM sobre la Propiedad Desjardins por $100,000, que se satisfará mediante la emisión de 98,441 acciones comunes de O3 Mining a aproximadamente $1.016 por acción. El acuerdo está sujeto a la aprobación de la Bolsa de Valores TSX Venture, y las acciones emitidas tendrán un periodo de bloqueo de cuatro meses. Este movimiento sigue los esfuerzos de consolidación anteriores de O3 Mining en la tendencia de Casa Berardi, anunciados en diciembre de 2023.
O3 Mining Inc. (TSXV: OIII; OTCQX: OIIIF)는 O3의 Kinebik 프로젝트에 인접한 SOQUEM Inc.로부터 Desjardins 재산을 인수하기 위한 제안된 거래를 발표했습니다. 이 인수는 O3 Mining의 핵심 탐사 전략과 일치하며 해당 지역 내 존재감을 더욱 강화합니다. 본 거래는 O3 Mining이 $100,000에 Desjardins 재산에 대한 SOQUEM의 권리 100%를 인수하는 것으로, 98,441주의 O3 Mining의 일반 주식을 약 $1.016 주당으로 발행하여 충족됩니다. 이 거래는 TSX Venture Exchange의 승인을 받아야 하며, 발행된 주식은 4개월의 보유 기간이 있습니다. 이 조치는 O3 Mining이 2023년 12월에 발표한 Casa Berardi 트렌드에서의 이전 통합 노력에 따른 것입니다.
O3 Mining Inc. (TSXV: OIII; OTCQX: OIIIF) a annoncé une transaction proposée pour acquérir la propriété Desjardins de SOQUEM Inc., adjacent au projet Kinebik d’O3 dans la tendance de Casa Berardi. Cette acquisition s'aligne avec la stratégie d'exploration principale d'O3 Mining et renforce davantage sa présence dans la région. La transaction consiste en l'acquisition par O3 Mining de 100 % des droits de SOQUEM sur la propriété Desjardins pour $100,000, ce qui sera satisfait par l'émission de 98,441 actions ordinaires d'O3 Mining à environ $1.016 par action. L'accord est soumis à l'approbation de la Bourse de Vancouver TSX, et les actions émises auront une période de blocage de quatre mois. Cette initiative fait suite aux précédents efforts de consolidation d'O3 Mining dans la tendance de Casa Berardi, annoncés en décembre 2023.
Die O3 Mining Inc. (TSXV: OIII; OTCQX: OIIIF) hat eine vorgeschlagene Transaktion zur Übernahme der Desjardins-Immobilie von SOQUEM Inc. angekündigt, die angrenzend an das Kinebik-Projekt von O3 in der Casa Berardi-Trend liegt. Diese Übernahme entspricht der Kern-Explorationsstrategie von O3 Mining und festigt weiter deren Präsenz in der Region. Die Transaktion beinhaltet, dass O3 Mining 100% der Rechte von SOQUEM an der Desjardins-Immobilie für $100.000 erwirbt, was durch die Ausgabe von 98.441 Stammaktien von O3 Mining zu einem Preis von etwa $1,016 pro Aktie erfüllt wird. Der Deal steht unter dem Vorbehalt der Genehmigung durch die TSX Venture Exchange, und die ausgegebenen Aktien unterliegen einer Sperrfrist von vier Monaten. Dieser Schritt folgt den früheren Konsolidierungsbemühungen von O3 Mining im Casa Berardi-Trend, die im Dezember 2023 angekündigt wurden.
- Acquisition of Desjardins property strengthens O3 Mining's presence in the Casa Berardi trend
- Aligns with the company's core exploration strategy
- Enables additional exploration drilling at Casa Berardi this winter
- Consolidates O3 Mining's property holdings in the area
- Issuance of 98,441 common shares may lead to slight shareholder dilution
TSXV:OIII | OTCQX:OIIIF - O3 Mining
O3 Mining's President and Chief Executive Officer, Mr. José Vizquerra commented: "We are pleased to further consolidate our presence on the Casa Berardi trend through the acquisition of SOQUEM's Desjardins Property. The Desjardins Property fits well within our current property holdings at the Kinebik Project and will enable our team to conduct additional exploration drilling at Casa Berardi this winter. This aligns well with our core exploration strategy and is an extension of our mission to explore and develop the major geologic faults in Québec. Our exploration success on the Cadillac Break continues a baseline of expertise to continue our strategy along the prolific Casa Berardi trend."
This Proposed Transaction will be completed pursuant to an asset purchase agreement (the "SOQUEM Agreement") dated September 10, 2024 between the Corporation and SOQUEM. Under the terms of the SOQUEM Agreement, the Corporation proposes to acquire
The Common Shares to be issued to SOQUEM pursuant to the SOQUEM Agreement will subject to a hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws. The closing of the Proposed Transaction remains subject to the final approval of the TSX Venture Exchange.
On a go-forward basis, O3 Mining will be consolidating the Desjardins Property into the "Kinebik Project". |
Figure 1: Kinebik Project and the Desjardins Property
About the Desjardins Property
The Desjardins Property is located 35 km north of the town of
About the Kinebik Project
The Kinebik property straddles over 40 km of strike along the prolific auriferous Casa Berardi trend, which extends over 400 km in the northern part of the Abitibi Greenstone Belt. Along its length, there are five mining districts including the +5.0M oz Au world-class Casa Berardi deposit, the Douay deposit (3.0M oz Au at 1.1 g/t Au), and the Vezza deposit (0.3M oz Au at 5.6 g/t Au). The Kinebik property is easily accessible all year round through the main roads to
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Mr. Louis Gariépy, P.Eng (OIQ #107538), VP Exploration of O3 Mining, who is a "qualified person" within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
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 closing of the Proposed Transaction, the ability to obtain the final approval of the TSX Venture Exchange, the significance of the Corporation's success at Cadillac Break, the Corporation's planned exploration activities and long-term objectives, the potential of the Kinebik and Desjardins properties, the ability of exploration (including drilling) to accurately predict mineralization, production being achieved at any of the Corporation's properties, 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.
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