Click here to view the original press release.
On December 12, 2024, O3 Mining Inc. (TSXV: OIII) (“O3 Mining” or the “Company”) announced that it had entered into a definitive support agreement with Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) (“Agnico Eagle”) pursuant to which Agnico Eagle has agreed to offer to acquire, directly or indirectly, all of the outstanding common shares of O3 Mining (“Common Shares”) at a price of $1.67 per Common Share in cash by way of a take-over bid (the “Offer”). The Offer is valued at approximately $204 million on a fully diluted in-the-money basis.
The offer price of $1.67 per Common Share represents a premium of 57% to the volume weighted average price of the Common Shares on the TSX Venture Exchange for the 20-day period ended December 11, 2024 (the last trading day prior to announcement of the Offer).
O3 Mining’s primary asset is its 100%-owned Marban Alliance property located near Val d’Or, in the Abitibi region of Québec, and is adjacent to Agnico Eagle’s Canadian Malartic complex.
Fort Capital is acting as financial advisor and provided an independent fairness opinion to the Special Committee of O3 Mining.