O3 Mining Closes C$18.7 Million Private Placement of Flow-Through Shares

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Last update: Aug 24, 2022

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TORONTO, Aug. 24, 2022 (GLOBE NEWSWIRE) -- O3 Mining Inc. (TSX.V: OIII; OTCQX: OIIIF) ("O3 Mining" or the "Corporation) is pleased to announce the successful completion of its previously announced "best-efforts" brokered and non-brokered private placements (together, the "Offering"), which closed this morning. Pursuant to the brokered tranche of the Offering, an aggregate of (i) 3,686,430 charitable flow-through shares of the Corporation ("Charitable Flow-Through Shares") were issued at an issue price of C$2.91 per Charitable Flow-Through Share for aggregate gross proceeds of approximately C$10.7 million, including the partial exercise of the agents' option, and (ii) 1,300,000 traditional flow-through shares of the Corporation ("Traditional Flow-Through Shares") were issued at an issue price of C$2.31 per Traditional Flow-Through Share for aggregate gross proceeds of approximately C$3.0 million.