O3 Mining Grants Compensation Awards Amid Agnico Eagle Cash Offer
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O3 Mining’s Security-Based Compensation Announcement
TSXV:OIII – O3 Mining
TORONTO, Dec. 23, 2024 /CNW/ – O3 Mining Inc. OIII OIIIF announces its ordinary course security-based compensation awards for the year ending December 31, 2024. As of December 23, 2024, the Corporation has awarded a total of (i) 878,817 restricted share units (RSUs) and (ii) 230,750 deferred share units (DSUs) to certain officers, directors, and employees. The RSUs will fully vest over three years, with one-third vesting on each anniversary of the grant. Vesting of the DSUs will follow the Corporation’s DSU plan.
Potential Acceleration of Vesting Related to Cash Offer
The Corporation expects the vesting of RSUs and DSUs might be accelerated due to the initial deposit period for the previously announced cash offer of $1.67 per common share from Agnico Eagle Mines Limited (“Agnico Eagle”). This offer aims to acquire all outstanding common shares of O3 Mining not already owned by Agnico Eagle (the “Offer”). This offer follows a support agreement established between the two companies on December 12, 2024, available for review on SEDAR+ (www.sedarplus.ca) under O3 Mining’s issuer profile.
A Brief Overview of O3 Mining Inc.
O3 Mining Inc. is a gold exploration and mine development firm located in Québec, Canada, near Agnico Eagle’s Canadian Malartic mine. The company boasts a 100% ownership of its properties, covering 128,680 hectares in Québec. Among its significant assets is the Marban Alliance project, which has been developed over the past five years and is nearing its next stage of progress, promising potential long-term benefits for stakeholders. More details can be found at https://o3mining.com.
Forward-Looking Information Caution
This news release contains “forward-looking information” under applicable Canadian securities legislation based on current expectations, estimates, and projections. This information is subject to known and unknown risks and uncertainties, which could cause actual performance to differ significantly. Statements include expected vesting of RSUs and DSUs and developments regarding the Marban Alliance project. Although these projections are based on what O3 Mining considers reasonable expectations, actual results may vary, and no assurance is given that these forward-looking statements will prove accurate. This news release does not reflect forecasts of O3 Mining’s future financial performance.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release. No regulatory body has approved or disapproved of the contents of this release.
SOURCE O3 Mining Inc.
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