O3 Mining (OIII.V) / Cartier Resources (ECR.V)
O3 Mining announced that they have entered into a definitive share purchase agreement with Cartier Resources pursuant to which O3 Mining has agreed to sell a 100% interest in its East Cadillac Project located in Val-d’Or, Québec, in exchange for 46,273,265 common shares of Cartier.
|O3 Mining||TSX.V: OIII|
|Market Cap||C$158 m @ $2.33|
|Location||Val d’Or, Quebec|
O3 Mining Signs Definitive Agreement to Sell East Cadillac Project to Cartier Resources
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 03 Mining Inc.
03 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.
03 Mining is well-capitalized and owns a 100% interest in all its properties (137,000 hectares) in Québec. 03 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 the 03 Mining website HERE
City Investors Circle is based in the financial district in the City of London
We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.
Our audience is selected and invited individually to ensure interest and relevance for the presenting company.
Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.
We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.
If you wish to present to our select group of active mining investors, please email email@example.com
This website is not sponsored, we are truly independent, and will always remain so.
Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.
All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.
These articles are for awareness and informational purposes only, and are not recommendations in any form. Always consult an investment professional.
At the time of writing the author is a shareholder of O3 Mining, bought in the market at the prevailing price on the day of purchase.