TSXV:OIII | OTCQX:OIIIF - O3
Mining
TORONTO, June 19,
2024 /CNW/ - O3 Mining Inc. (TSXV: OIII)
(OTCQX: OIIIF) ("O3 Mining" or the "Corporation") announces that in
accordance with the terms of the senior unsecured convertible
debenture issued on June 19, 2023
(the "Debenture"), it has elected to issue to the holder thereof
215,517 common shares (the "Common Shares") at a deemed
price of $1.16 per Common
Share as payment for, and for the satisfaction of, the amount of
$250,000, representing 50% of the
total interest obligation due and payable by the Corporation in
respect of the June 19, 2024 interest
payment owing under the Debenture.
Pursuant to the Debenture, O3 Mining shall have the right,
subject to the approval of the TSX Venture Exchange and other
conditions set out in the Debenture, to elect to satisfy up to 50%
of its interest payment obligation in respect of any interest
period through the issuance of Common Shares of at a price per
share equal to the greater of (i) the volume weighted average price
of the Common Shares on the TSX Venture Exchange during the 10
consecutive trading days ending on the trading day immediately
preceding the applicable interest payment date, and (ii) the
minimum price permitted by the TSX Venture Exchange.
The issuance of the Common Shares as partial payment of the
interest payment owing under the Debenture will be subject to
the terms and conditions of the Debenture as well as the receipt of
all requisite approvals, including the approval of the TSX Venture
Exchange.
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 (107,000 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.
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. Any
statement that involves discussions with respect to predictions,
expectations, interpretations, beliefs, plans, projections,
objectives, assumptions, future events or performance, including
the receipt of approval of the TSX Venture Exchange (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. This forward-looking information is
based on reasonable assumptions and 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. 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 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.
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.