NOT FOR DISTRIBUTION TO
UNITED STATES NEWSWIRE SERVICES OR
FOR DISSEMINATION IN THE UNITED
STATES.
TSXV:OIII - O3 Mining
TORONTO, Aug. 30,
2024 /CNW/ - O3 Mining Inc. (TSXV:
OIII) ("O3 Mining" or the "Corporation")
announces, further to its news release dated June 19, 2023 and entitled "O3 Mining
Announces C$10 Million Convertible
Debenture Placement", that it has issued to its strategic
investor 500,000 units of the Corporation (each, a "Unit")
at an issue price of $1.10 per Unit
for gross proceeds of $550,000. The
strategic investor exercised its participation right to subscribe,
on a private placement basis, for Units on the same terms and
conditions as Units issued under the public offering, which closed
on August 28, 2024.
Each Unit consists of one common share of the Corporation (each,
a "Common Share") and one-half of one Common Share purchase warrant
(each whole Common Share purchase warrant, a "Warrant"). Each
Warrant is exercisable to acquire one Common Share for a period of
24 months from closing of the Public Offering at an exercise price
of $1.45 per Common Share.
This investment was completed on a non-brokered private
placement basis. All securities issued to the strategic investor on
a private placement basis are subject to a statutory hold period
under Canadian securities laws expiring four months and one day
from the date of issuance. The private placement is subject to the
final approval of the TSX Venture Exchange.
The securities offered 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 an applicable exemption from the
registration requirements of the U.S. Securities Act and applicable
U.S. state securities laws.
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 receipt of final
approval of the TSX Venture Exchange for the private placement. 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 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.