{"id":1187367,"date":"2020-05-29T17:32:51","date_gmt":"2020-05-29T22:32:51","guid":{"rendered":"https:\/\/www.mining.com\/?p=1025625"},"modified":"2020-05-29T17:32:51","modified_gmt":"2020-05-29T22:32:51","slug":"o3-raising-c35m-for-quebec-exploration","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1187367","title":{"rendered":"O3 raising C$35M for Quebec exploration"},"content":{"rendered":"

O3 Mining has announced that it has entered into an agreement with a syndicate of underwriters, co-led by Cormark Securities, Sprott Capital Partners and Canaccord Genuity, to raise C$35 million (upsized from C$30 million) for exploration work at its projects in Quebec, as well as for working capital and corporate uses.<\/p>\n

The bought deal private placement offering includes 4.7 million flow-through units, priced at C$4.3 each, as well as 6.4 million regular units, priced at C$2.35 a unit, for total gross proceeds of C$35 million.<\/p>\n

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O3 Mining, part of the Osisko group of companies, wholly owns 4,350 sq. km of ground in Quebec and a further 250 sq. km in Ontario<\/p>\n<\/blockquote>\n<\/figure>\n

Each flow-through unit consists of one flow-through share and half of a warrant; each regular unit is made up of a share and half of a warrant. The warrants are exercisable at C$3.25 for a 24-month period following closing, which is expected around Jun. 18.<\/p>\n

The underwriters also have the option to sell up to an additional 638,310 units up to 48 hours prior to closing. O3 may also issue up to C$2 million worth of units to pre-determined buyers of the stock.<\/p>\n

Gross proceeds from the flow-through portion are intended for eligible exploration expenses at the company\u2019s projects in Quebec; proceeds from the sale of regular units are intended for working capital and corporate expenses.<\/p>\n

O3 Mining, part of the Osisko group of companies, wholly owns 4,350 sq. km of ground in Quebec and a further 250 sq. km in Ontario \u2013 this includes 610 sq. km in Val d\u2019Or; it controls over 50 km of the Cadillac-Larder lake fault.<\/p>\n

The company\u2019s assets in Quebec include the Malartic, Alpha and\u00a0East <\/a><\/strong>Cadillac<\/a>\u00a0properties, where it is planning to drill a total of 50,000 metres this year.<\/p>\n

(This article first appeared in the <\/em>Canadian Mining Journal<\/em><\/a>)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

O3 Mining wholly owns 4,350 sq. km of ground in Quebec and a further 250 sq. km in Ontario.<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1187367"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1187367"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1187367\/revisions"}],"predecessor-version":[{"id":1187368,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1187367\/revisions\/1187368"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1187367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1187367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1187367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}