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The shelf prospectus supplement, the corresponding base shelf
prospectus and any amendment to the documents are accessible
through SEDAR+
TSXV:OIII - O3 Mining
TORONTO, Aug. 23,
2024 /CNW/ - O3 Mining Inc. (TSXV:
OIII) ("O3 Mining" or the "Corporation")
announces that it has filed a prospectus supplement (the
"Prospectus Supplement") to its short form base shelf prospectus
dated April 28, 2023 (the "Shelf Prospectus")
with the securities regulatory authorities in all provinces and
territories of Canada other than
Québec. The Prospectus Supplement has been filed in connection with
O3 Mining's previously-announced public equity financing (the
"Public Offering") of $18,150,000 of
units (the "Units") ($20,872,500 of
Units if the over-allotment option granted by O3 Mining to the
underwriters is exercised in full).
Delivery of the Shelf Prospectus, the Prospectus Supplement, and
any amendments to the documents will be satisfied in accordance
with the "access equals delivery" provisions of applicable
securities legislation. The Shelf Prospectus and the Prospectus
Supplement are accessible on SEDAR+ (www.sedarplus.ca) under O3
Mining's issuer profile.
An electronic or paper copy of the Shelf Prospectus, the
Prospectus Supplement, and any amendment to the documents may be
obtained, without charge, from Canaccord Genuity Corp. by phone at
416-869-3052 or by e-mail at ecm@cgf.com by providing
Canaccord Genuity Corp. with an email address or address, as
applicable. The Shelf Prospectus and Prospectus Supplement contain
important, detailed information about O3 Mining and the Public
Offering. Prospective investors should read the Shelf Prospectus
and Prospectus Supplement before making an investment decision.
Additionally, the Corporation wishes to provide an update on its
prospectus supplement dated June 16,
2023 for an "at-the-market" (the "ATM Supplement") offering
of up to $10,000,000 of common shares
of the Corporation. To date, an aggregate of $247,735 of common shares of the Corporation have
been issued under the ATM Supplement. Having regard to (i) the
maximum offering limit of $25,000,000
under the Shelf Prospectus, (ii) the size of the Public Offering of
up to $20,872,500 of Units (if the
over-allotment option is exercised in full), and (iii) the amount
of Common Shares previously issued under the ATM Supplement (being
$247,735), the remaining maximum size
of the Corporation's existing "at-the-market" offering (being
$9,752,265) will be reduced, on a
dollar-for-dollar basis, by the amount by which the Public Offering
exceeds $15,000,000).
In addition, the Corporation wishes to announce that its
strategic investor with participation rights in equity financings
of the Corporation (as announced in the Corporation's news release
dated June 19, 2023 and entitled
"O3 Mining Announces C$10
Million Convertible Debenture Placement") has
exercised such participation rights in connection with the Public
Offering and intends to subscribe for such number of Units that
will result in the strategic investor holding 5.1% of the issued
and outstanding common shares after giving effect to the Public
Offering, calculated in accordance with the terms of the strategic
investor's participation right, at the issue price of $1.10 per Unit. The Units issued to the strategic
investor will have the same terms as the Units to be issued in
connection with the Public Offering and this investment will be
completed on a non-brokered private placement basis concurrent
with, and in addition to, the Public Offering. All securities
issued to the strategic investor on a private placement basis will
be subject to a statutory hold period under Canadian securities
laws expiring four months and one day from the date of
issuance.
The Public Offering and concurrent private placement are subject
to the conditional and final approvals of the TSX Venture
Exchange.
The securities to be offered pursuant to the Public Offering
and issued pursuant to the private placement have not been, and
will not be, registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act"), or any U.S. state
securities laws, and may not be offered or sold to, or for the
account or benefit of, persons in the
"United States" or "U.S persons" (as such terms are defined
in Regulation S under the U.S. Securities Act) absent registration
or any applicable exemption from the registration requirements of
the U.S. Securities Act and applicable U.S. state securities
laws.
This news release shall not constitute an offer to sell or
the solicitation of an offer to buy nor shall there be any sale of
the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
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). 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.
Forward-looking statements herein include, but are not limited to,
statements with respect to the Public Offering, the concurrent
private placement, the receipt of regulatory approvals, and the
Corporation's "at-the-market" program. 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 Public Offering and the concurrent private
placement on the terms described in this news release or timing
currently expected, or at all, 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.
SOURCE O3 Mining Inc.
