O3 Mining Inc.(TSX.V: OIII)
Announced a number of corporate updates.
The principal one being that exploration is restarting after the recent Quebec wildfires.
|O3 Mining||TSX.v : Olll|
|Market cap||C$106 m @ C$1.45|
O3 Mining Announces Corporate Updates
TSXV:OIII | OTCQX:OIIIF – O3 Mining
TORONTO,June 16, 2023/CNW/ –O3 Mining Inc.(TSXV: OIII) (OTCQX: OIIIF) (“O3 Mining” or the “Corporation“) is pleased to announce the following corporate updates.
Resumption of Exploration Activities
O3 Mining would like to provide an update on the Québec wildfires, further to our announcement on June 9, 2023 (See News Release dated June 9, 2023and entitled“O3 Mining Provides Update on Activities in Québec”). The government has permitted certain sectors to regain access to the Abitibi-Témiscamingue forests. Accordingly, O3 Mining will resume certain field mapping, prospecting, and drilling activities while restrictions continue to remain in place. We are continuing to closely monitor the status of the Québec wildfires to ensure the safety of our employees, contractors, partners and local communities and will provide updates as necessary.
Community Meeting – Marban Project
As a result of the Québec wildfires, the Corporation has rescheduled its neighbourhood community meeting to June 27, 2023 (see announcement of O3 Mining dated May 30, 2023 and entitled“Communication to the Community – Neighbourhood Meeting Marban Project“. We look forward to continuing to engage with our local stakeholders on O3 Mining’s ongoing activities regarding the Marban project. On-site, team members from different professions and areas of expertise will be on hand to answer questions and discuss the Marban project.
A number of booths will be set-up at the meeting, arranged by topic, covering the following matters:
- Our progress of the Marban Project;
- Our planned exploration work ;
- Our Responsible Exploration Program;
- The Federal and Provincial environmental assessment processes for the Marban project;
- Our community relations initiatives;
- Our currently-available job postings; and
- A participatory activity to map land use .
Establishment of an “At-The-Market” Equity Offering Program
The Corporation is pleased to announced that effective today, it has established an at-the-market equity offering program (the “Offering“) that allows the Corporation to issue and sell up to $10,000,000 of common shares in the capital of the Corporation (the “Common Shares“) from the treasury to the public, from time to time, at the Corporation’s discretion and subject to regulatory requirements.
All Common Shares issued under the Offering will be sold in transactions that are deemed to be “at-the-market” distributions as defined in National Instrument 44-102 –Shelf Distributions.
All Common Shares sold under the Offering will be sold through the TSX Venture Exchange or another marketplace (as defined in National Instrument 21-101 –Marketplace Operation) upon which the Common Shares are listed, quoted, or otherwise traded, at the prevailing market price at the time of sale. As Common Shares distributed under the Offering will be issued and sold at the prevailing market prices at the time of their sale or as otherwise permitted by law, prices may vary among purchasers and during the period of distribution.
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