Canadian Gold Miner and Osisko Mining team up to accelerate gold exploration projects in Ontario

Canadian Gold Miner Corp. (“CGM” or the “Company”) and Transition Metals Corp. (a 40% owner of CGM; XTM – TSX.V, “Transition”) are pleased to announce that CGM has today concluded a transaction with Osisko Mining Inc. (“Osisko”) to acquire the DeSantis property, a historical gold producer located in the heart of the Timmins Gold Camp, and an option on the Catharine Property, a large exploration land package near CGM’s focus area south of Kirkland Lake, Ontario in exchange for 2.5 million common shares of CGM valued at $0.20 per share. Concurrent with the transaction, Osisko also has completed a $1.0 million private placement in CGM consisting 5.0 million units priced at $0.20 with each unit consisting of a common share and a half common share purchase warrant exercisable at $0.35 for a period of two years.
As quoted in the press release:

Commenting on the transaction, CGM CEO Greg Collins states “We are pleased to have Osisko’s support as a significant shareholder as we look to aggressively advance our portfolio of gold projects in Ontario. In addition to adding two properties with good exploration potential to our portfolio, we view the transaction as a significant milestone that should help us attract additional investment interest and accelerate our ability to create value moving forward.”

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