TSXV:OIII | OTCQX:OIIIF - O3 Mining
TORONTO, Oct. 20,
2023 /CNW/ - O3 Mining Inc. (TSXV: OIII)
(OTCQX: OIIIF) ("O3 Mining" or the
"Corporation") is pleased to announce that the TSX
Venture Exchange ("Exchange") has accepted the Corporation's
notice to implement a normal course issuer bid ("NCIB") to
purchase, for cancellation, up to 5,367,189 of its common shares
("Shares"), representing approximately 10% of the
Corporation's "public float".
O3 Mining has received approval from the Exchange to commence
the NCIB on October 23, 2023 and
continue to October 22, 2024, 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 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 engaged CIBC World Markets Inc. to act as
its agent to conduct the NCIB transactions. O3 Mining's
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 inside 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 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 (62,000 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.
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.
SOURCE O3 Mining Inc.