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TSXV:OIII | OTCQX:OIIIF - O3
Mining
TORONTO, Jan. 5, 2024
/CNW/ - O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3
Mining" or the "Corporation") announces that, effective
March 31, 2023 and December 31, 2023, it granted to certain
directors of the Corporation deferred share units of the
Corporation ("DSUs") in satisfaction of certain director fees that
have been settled in DSUs in lieu of cash for the second and third
quarters of 2023, respectively. To that end, directors of the
Corporation may elect, from time to time, to receive all or a
portion of their director fees in the form of cash or DSUs. Any
fees that are settled in DSUs are settled on a quarterly basis.
For the first quarter of 2023, an aggregate of 28,368 DSUs were
issued to certain directors effective March
31, 2023 in satisfaction of certain director fees that were
settled in DSUs in lieu of cash, based on the prevailing market
price of $1.41 per common share of
the Corporation.
For the fourth quarter of 2023, an aggregate of 24,844 DSUs were
issued to certain directors effective December 31, 2023 in satisfaction of certain
director fees that were settled in DSUs in lieu of cash, based on
the prevailing market price of $1.61
per common share of the Corporation.
The DSUs will vest in accordance with the deferred share unit
plan of the Corporation, a copy of which is available on SEDAR+
(www.sedarplus.com) under O3 Mining's issuer profile (see
management information circular of O3 Mining dated as of
May 11, 2022).
Clarification to News Release Dated December 22, 2023
The Corporation also wishes to provide a clarification to its
news release entitled "O3 Mining Strengthens Presence in
the Casa Berardi Trend by Consolidating the Kinebik
Project" issued on December 22,
2023 (the "Prior News Release"). The Prior News Release
stated that Osisko Mining Inc. subscribed for 2,430,556 common
shares of the Corporation at a price of C$2.44 per share under the Corporation's
non-brokered private placement that closed on December 12, 2023. For clarification, the price
per share was C$1.44. This
clarification does not change any other information reported in the
Prior News Release.
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 (66,000 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.