O3 Mining Sells Its Kinebik Gold Project to Tri Origin Exploration

TORONTO, April 14, 2021 /CNW/ - O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation") is pleased to announce that it has sold its Kinebik Gold Project located between the towns of Matagami and Lebel-sur-Quévillon, in northern Quebec, to Tri Origin Exploration Ltd. ("Tri Origin"). Under the terms of the agreement (the "Transaction"), O3 Mining received 2,700,000 common shares of Tri Origin, which are subject to a statutory four month and a day hold period.

 

After giving effect to the Transaction, the Corporation now holds an aggregate of 5,100,000 shares of Tri Origin, representing approximately 9.87% of the issued and outstanding Tri Origin shares on a non-diluted basis.

 

Mr. José Vizquerra, O3 Mining's President and Chief Executive Officer commented: "We are pleased to announce that we have found another strategic partner for one of our non-core assets. We continue to increase value for our shareholders through divestment as a part of our ongoing strategy. We look forward to supporting Tri Origin as they maximize value in the Kinebik Gold Project".

 

About O3 Mining Inc.

 

O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer ready to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support, previous mine-building success, and expertise of the Osisko team as it grows towards being 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 (137,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSX.V: OIII) and OTC Markets (OTCQX: OIIIF). The company 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