O3 Mining Congratulates its Largest Shareholder, Osisko Mining in connection with its Announced C$2.16 billion Acquisition by Gold Fields
Rhea-AI Summary
O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) congratulates its largest shareholder, Osisko Mining Inc., on its C$2.16 billion acquisition by Gold Fields The all-cash transaction values Osisko shares at C$4.90 per share, representing a 55% premium to the 20-day volume-weighted average trading price. Osisko holds 18,291,854 common shares, or 20.7%, of O3 Mining. The deal is expected to create synergies and potentially impact O3 Mining's future operations. O3 Mining looks forward to working with Gold Fields following the completion of the transaction, which could bring new opportunities and strategic directions for the company.
Positive
- Potential for increased strategic support and resources from Gold Fields as new major shareholder
- 55% premium on Osisko's share price may positively impact O3 Mining's valuation
- Possible access to Gold Fields' expertise and network in the mining industry
Negative
- Uncertainty regarding Gold Fields' long-term plans for its stake in O3 Mining
- Potential changes in strategic direction or support from the new major shareholder
TSXV:OIII | OTCQX:OIIIF - O3 Mining
Osisko holds 18,291,854 commons shares which represents
Osisko Mining and Gold Fields Transaction
Osisko has entered into a definitive arrangement agreement dated August 12, 2024 pursuant to which Gold Fields, has agreed to acquire all of the issued and outstanding common shares of Osisko at a price of
About Osisko
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in
About Gold Fields Limited
Gold Fields Limited is a globally diversified gold producer with nine operating mines in
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 including, but are not limited to, statements with respect to the proposed Transaction and the terms of thereof and the impact on O3 Mining. 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. Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements. Forward-looking information is based on 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. Such factors include, among others, risks relating to the ability of the parties to complete the Transactions in accordance with the terms currently contemplated or timing currently expected, or at all, the impact of the Transaction on O3 Mining, and general developments, market and industry conditions. 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 the Corporation nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Corporation believes that this forward-looking information is based on reasonable assumptions, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. The Corporation does not undertake, 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. These statements speak only as of the date of this news release.
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
How much is Gold Fields paying to acquire Osisko Mining (OIIIF's largest shareholder)?
What percentage of O3 Mining (OIIIF) does Osisko Mining own?
What premium does the acquisition offer to Osisko Mining shareholders?
How might the Gold Fields acquisition of Osisko Mining affect O3 Mining (OIIIF)?
