/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES./
TSXV:OIII - O3 Mining
TORONTO, Dec. 23,
2024 /CNW/ - O3 Mining Inc. (TSXV: OIII)
(OTCQX: OIIIF) ("O3 Mining" or the
"Corporation") announces its ordinary course security-based
compensation awards for the year ended December 31, 2024. Effective December 23, 2024, the Corporation has granted to
certain officers, directors and/or employees of the Corporation an
aggregate of (i) 878,817 restricted share units of the Corporation
("RSUs"), and (ii) 230,750 deferred share units of the Corporation
("DSUs"). The RSUs will vest in their entirety over three years
from the date of grant, with one-third of the RSUs vesting on each
of the first, second and third anniversaries of the date of grant.
The DSUs will vest in accordance with the Corporation's DSU
plan.
The Corporation anticipates the vesting of RSUs and DSUs will be
accelerated in connection with the initial deposit period for the
previously announced cash offer of $1.67 per common share of the Corporation by an
affiliate of Agnico Eagle Mines Limited ("Agnico Eagle") to acquire
all of the issued and outstanding common shares of the Corporation
not already owned, directly or indirectly, by Agnico Eagle (the
"Offer"). The Offer has been made in accordance with the support
agreement between Agnico Eagle and O3 Mining dated December
12, 2024, a copy of which is available on SEDAR+ (www.sedarplus.ca)
under O3 Mining's issuer profile.
About O3 Mining Inc.
O3 Mining Inc. is a gold explorer and mine developer in
Québec, Canada, adjacent to Agnico Eagle's Canadian Malartic
mine. O3 Mining owns a 100% interest in all its properties (128,680
hectares) in Québec. Its principal asset is the Marban Alliance
project in Québec, which O3 Mining has advanced over the last five
years to the cusp of its next stage of development, with the
expectation that the project will deliver long-term benefits to
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 applicable Canadian securities legislation
that is based on current expectations, estimates, projections, and
interpretations about future events as at the date of this news
release. Forward-looking information and statements are based on
estimates of management by O3 Mining, at the time they were made,
and involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking information or statements. Forward-looking
statements in this news release include, but are not limited to,
statements regarding vesting of RSUs and DSUs, including any
accelerated vesting thereof; the anticipated next stage of
development of the Marban Alliance project; and the expectation
that the Marban Alliance project will deliver long-term benefits to
stakeholders. Although the forward-looking information contained in
this news release is based upon what O3 Mining believes, or
believed at the time, to be reasonable expectations and
assumptions, there is no assurance 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 O3 Mining nor any other person
assumes responsibility for the accuracy and completeness of any
such forward-looking information. 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. O3 Mining 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 applicable
law. These statements speak only as of the date of this news
release. Nothing contained herein shall be deemed to be a forecast,
projection or estimate of the future financial performance of O3
Mining.
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.