O3 Mining Files Early Warning Report in Respect of Hemlo Explorers Inc.

TORONTO, Nov. 10, 2022 (GLOBE NEWSWIRE) -- O3 Mining Inc. (TSX.V: OIII; OTCQX: OIIIF) ("O3 Mining" or the "Corporation") announces that it has filed an early warning report in respect of its holdings in Hemlo Explorers Inc. ("Hemlo"). Through a series of transactions, including a disposition (the "Market Disposition") through the facilities of the TSXV and via private agreements with arm's length third parties (the "Private Dispositions"), the Corporation has sold an aggregate of 3,703,833 common shares of Hemlo (the "Hemlo Shares"), representing approximately 10.06% of the issued and outstanding Hemlo Shares, on an undiluted basis and on the basis of there being 36,829,367 Hemlo Shares issued and outstanding, at a price of $0.05 per Hemlo Share for aggregate gross proceeds of $185,191.65. In addition, on February 25, 2022, 150,000 warrants to purchase Hemlo Shares (the "Hemlo Warrants") held by O3 Mining expired (the "Warrant Expiry", and, collectively with the Market Dispositions and the Private Dispositions, the "Transactions").

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