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Osisko Metals Announces Friendly Acquisition of Pine Point Mining
Osisko Metals Incorporated (“Osisko Metals”) (TSX VENTURE:OM)(FRANKFURT:0B5) and Pine Point Mining Limited (“Pine Point”) (TSX VENTURE:ZINC) are pleased to announce that they have entered into a definitive arrangement agreement dated December 15, 2017 (the “Agreement”) pursuant to which, among other things, (i) Osisko Metals has agreed to acquire all of the issued and outstanding common …
Osisko Metals Incorporated (“Osisko Metals”) (TSX VENTURE:OM)(FRANKFURT:0B5) and Pine Point Mining Limited (“Pine Point”) (TSX VENTURE:ZINC) are pleased to announce that they have entered into a definitive arrangement agreement dated December 15, 2017 (the “Agreement”) pursuant to which, among other things, (i) Osisko Metals has agreed to acquire all of the issued and outstanding common shares of Pine Point, and (ii) a newly formed company (“Spinco”) will be created to hold all of the assets and liabilities of Pine Point, with the exception of the Pine Point project located in the Northwest Territories (the “Pine Point Project”), all of which is to be completed by way of a statutory plan of arrangement under the Business Corporations Act (Ontario) (the “Arrangement”). The Arrangement will result in Osisko Metals acquiring the Pine Point Project in furtherance of Osisko Metals’ stated strategy of consolidating and developing base metal assets at the mining district scale.
As quoted in the press release:
Jeff Hussey, President and CEO of Osisko Metals, stated: “We are extremely pleased to be announcing today’s transaction with Pine Point. The addition of the Pine Point Project to our exploration and development portfolio is exactly in keeping with our strategy of consolidating world class base metal mining districts. We look forward to applying an aggressive and innovative exploration strategy to unlock the full potential of both former producing mining districts.”
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