BULLETIN V2024-0769
OSISKO METALS INCORPORATED ("OM")
BULLETIN TYPE: Property-Asset or Share Disposition Agreement
BULLETIN DATE: March 12, 2024
TSX Venture Tier 1 Company
TSX Venture Exchange has accepted for filing a disposition of 5.4% interest (the "Interest") in Pine Point Mining Limited ("PPML") pursuant to a share purchase agreement (the "Agreement") between the Company and a non-arm's length party (the "Purchaser"). PPML, a joint venture entity owned by the Company and the Purchaser, is the owner of the Pine Point Project located on the south shore of Great Slave Lake in the Northwest Territories.
Pursuant to the terms of the Agreement, the Purchaser will pay $6,663,990.36 to the Company to purchase 17,190,740 class B common shares in the capital of PPML for the Interest at a price of C$0.38765 per share. Additional consideration may be provided if a positive final investment decision is reached. The Interest is in addition to the Purchaser's earn-in right of up to 60% interest in PPML, as approved by the Exchange under its bulletin dated May 12, 2023.
For further details, please refer to the Company's news releases dated February 22, 2024.
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