TSXV:OIII | OTCQX:OIIIF - O3 Mining
TORONTO, April 7,
2022 /CNW/ - O3 Mining Inc. (TSXV: OIII)
(OTCQX: OIIIF) ("O3 Mining" or the "Corporation") is pleased
to announce that it has entered into a definitive share purchase
agreement (the "Definitive Agreement") with Cartier Resources Inc.
("Cartier") pursuant to which O3 Mining has agreed to sell a 100%
interest in its East Cadillac Project located in Val-d'Or, Québec, Canada, in exchange for 46,273,265 common
shares of Cartier, representing approximately 17.5% of the pro
forma outstanding common shares of Cartier upon the completion
of the transaction.
In connection with the transaction, the Corporation and
Cartier will enter into an
investor rights agreement (the "Investor Rights Agreement"),
pursuant to which O3 Mining will be entitled to designate one
director for appointment to the board of directors of Cartier. The Investor Rights Agreement will
also include, among other things, pre-emptive and top-up rights in
favour of O3 Mining, a standstill provision for a period of two
years and a share transfer restriction provision effective for a
period of three years.
The transaction remains subject to the satisfaction or waiver of
customary closing conditions, including the approval of the TSX
Venture Exchange to permit Cartier
to issue its common shares to O3 Mining.
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 (137,000 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. The
information in this news release about closing the Transaction; the
timing and ability (if at all) of O3 Mining and Cartier to close the Transaction; the
go-forward strategy of O3 Mining; the focus of O3
Mining on its core projects in Val-d'Or, Québec; and any other information
herein that is not a historical fact may be "forward-looking
information". 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. This
forward-looking information is based on reasonable assumptions and
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. 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 party nor any other person assumes
responsibility for the accuracy and completeness of any such
forward-looking information. Neither party undertakes, 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.
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.