Osisko Metals to issue 2M shares to Maxit for services
2023-05-26 10:15 ET – News Release
Mr. Robert Wares reports
OSISKO METALS: CORPORATE UPDATE
Osisko Metals Inc. has provided, as per regulatory compliance, the following updates:
Shares for services agreement
Subject to the approval of the TSX Venture Exchange, the company has agreed to issue an aggregate of two million common shares at a deemed issue price of 31.25 cents per common share in satisfaction of an aggregate of $625,000 in obligations due to Maxit Capital LP, which acted as the financial adviser to the company in connection with the recently completed joint venture transaction with Appian Canada Pine BV. The common shares issued pursuant to this shares for services transaction will be subject to a four-month hold period under applicable securities laws.
Grant of stock options
The company’s board of directors has approved the grant of 2023 incentive stock options to certain directors, officers, key employees and key consultants to purchase up to an aggregate of 1,705,000 common shares in the capital stock of the company. Grants are subject to a three-year vesting period and a five-year term at an exercise price of 25 cents per share.
About Osisko Metals Inc.
Osisko Metals is a Canadian exploration and development company creating value in the critical metals space. The company controls one of Canada’s premier past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories, for which the 2022 preliminary economic assessment has indicated an after-tax net present value of $602-million and an internal rate of return of 25 per cent is based on the current mineral resource estimates that are amenable to open-pit and shallow underground mining and consist of 15.7 million tonnes grading 5.55 per cent zinc equivalent of indicated mineral resources and 47.2 Mt grading 5.94 per cent ZnEq of inferred mineral resources.
We seek Safe Harbor.
Related Posts
Tags
Share This
