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TSXV: OIII | OTCQX: OIIIF - O3 Mining
TORONTO, Sept. 2, 2022 /CNW/ - O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation") is pleased to announce that its common shares (the "Common Shares") are now eligible for electronic clearing and settlement through the Depository Trust Company ("DTC").
DTC is a subsidiary of the Depository Trust & Clearing Corporation, a United States company that manages electronic clearing and settlement for publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered to be "DTC Eligible".
DTC eligibility is expected to simplify the process of trading and transferring the Common Shares and to enhance the liquidity of the Common Shares in the United States because of the accelerated settlement period and the expected reduction in costs for investors and brokers, enabling the Common Shares to be traded over a wider selection of brokerage firms.
In addition, the Corporation has entered into an issuer trading services agreement (the "Generation Agreement") with Generation IACP Inc. ("Generation") pursuant to which, among other things, Generation has agreed to provide certain investor relation and market making services to the Corporation in accordance with Policy 3.4 – Investor Relations, Promotional and Market-Making Activities of the TSX Venture Exchange (the "Exchange").
Generation's engagement is for an initial term of six months (the "Initial Term"). The Generation Agreement shall be automatically renewed for subsequent three-month periods (each a "Renewal Term") unless the Corporation provides written notice of termination to Generation at least 30 days prior to the end of the Initial Term or a Renewal Term, as applicable. Throughout the Initial Term and any Renewal Term, the Corporation shall pay Generation a monthly fee of $7,500, payable quarterly in advance at the direction of Generation. The monthly fee shall automatically increase by 3% on each anniversary of the Generation Agreement.
Generation provides investment advisory services on behalf of institutions across the country. Through Generation's engagement, the Corporation hopes to contribute to market liquidity of the Corporation's common shares.
There are no performance factors contained in the Generation Agreement and Generation will not receive common shares or options as compensation. Further, Generation and the Corporation are unrelated and unaffiliated entities and, at the time of the Generation Agreement, neither Generation nor any of its principals have an interest, directly or indirectly, in the securities of the Corporation.
O3 Mining Inc., an Osisko Group company, is a gold explorer and mine developer on the road 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 (66,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSXV: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation 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
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.