O3's main asset is a property adjacent to the Canadian Malartic complex.
NYSE- and TSX-listed Agnico Eagle Mines has completed its acquisition of O3 Mining, which is now a wholly owned subsidiary of the Canadian gold miner.
Under the terms of the agreement, shareholders of O3 Mining, excluding Agnico Eagle, received $1.67 in cash per common share.
The transaction follows Agnico Eagle’s successful board-supported takeover bid for O3 Mining.
With the completion of the acquisition, O3 Mining’s common shares are expected to be delisted from the TSX-V on Thursday.
O3’s primary asset, the 100%-owned Marban Alliance property in Québec’s Abitibi region, is adjacent to Agnico Eagle’s Canadian Malartic complex. The Marban Alliance includes the Marban deposit, an advanced exploration project with an estimated 52.4-million tonnes of indicated resources grading 1.03 g/t gold (1.7-million ounces) and 1.0-million tonnes of inferred resources grading 0.97 g/t gold (32 000 oz). 