Key Developments: Osisko Mining Corp (OSKFF.PK)
4.05USD
21 May 2013
$0.13 (+3.37%)
$3.92
$3.82
$4.22
$3.82
64,784
86,988
$10.98
$3.34
Latest Key Developments (Source: Significant Developments)
Osisko Mining Corp Reaffirms FY 2013 Production Guidance
Osisko Mining Corp announced that gold production is estimated between 485,000-510,000 ounces for fiscal 2013. Full Article
Osisko Mining Corp Issues FY 2013 Production Guidance
Osisko Mining Corp announced that gold production is estimated between 485,000-510,000 ounces for fiscal 2013. Full Article
Osisko Mining Corp Completes Arrangement With Queenston Mining Inc.
Osisko Mining Corp and Queenston Mining Inc. announced the successful completion of the previously announced plan of arrangement (the Arrangement) involving Queenston and Osisko whereby, among other things, Osisko has acquired all of the issued and outstanding common shares of Queenston. Under the terms of the Arrangement, each former Queenston shareholder is entitled to receive 0.611 of an Osisko common share for each Queenston common share held. Osisko intends to cause Queenston to delist its common shares from the Toronto Stock Exchange and OTCQX, to submit an application to cease to be a reporting issuer and to otherwise terminate its public reporting requirements as soon as possible thereafter. The common shares of Osisko issued under the Arrangement are expected to be listed and trading on the TSX on or about December 31, 2012. Full Article
Queenston Mining Inc Updates On Arrangement with Osisko Mining Corp
Queenston Mining Inc announced that Osisko Mining Corp has entered into an agreement to acquire 7,795,574 common shares of Queenston (the Acquired Shares) from Agnico-Eagle Mines Limited (Agnico-Eagle) for $5.43 in cash per share, being the closing price of the common shares of Queenston (Queenston Shares) on the Toronto Stock Exchange on November 23, 2012. The Acquired Shares represent approximately 9.2% of the issued and outstanding Queenston Shares. As previously announced on November 12, 2012, Queenston entered into an arrangement agreement with Osisko, pursuant to which Osisko has agreed to acquire all of the outstanding Queenston Shares by way of a plan of arrangement under the Canada Business Corporations Act (the Arrangement). Pursuant to the Arrangement, holders of Queenston Shares (Shareholders) will receive 0.611 of a common share of Osisko for each Queenston Share held. Full Article
Osisko Mining Corp Acquires 9.2% Stake In Queenston From AgniCo Eagle Mines Ltd
Osisko Mining Corp announced that it has entered into an agreement to acquire 7,795,574 common shares (9.2%) of Queenston Mining Inc. (Queenston) from Agnico-Eagle Mines Ltd (Agnico-Eagle) and that Agnico-Eagle, as the shareholder of record for such shares, has agreed to vote in favour of the previously announced Arrangement (as defined below, see Osisko press release, November 12, 2012). Pursuant to the agreement, Agnico-Eagle will receive $5.43 for each Queenston common share (closing price on the Toronto Stock Exchange on November 23, 2012) sold, for total proceeds of approximately $42.3 million. Osisko's acquisition of the 9.2% stake in Queenston will be completed using available cash on hand. Full Article
Osisko Mining Corp Announces Friendly Acquisition Of Queenston Mining Inc
Osisko Mining Corp and Queenston Mining Inc. announced that they have entered into a definitive agreement pursuant to which Osisko will acquire, by way of a court-approved plan of arrangement, all of the issued and outstanding common shares of Queenston. Queenston is a Canadian mineral exploration and development company with a primary focus on holdings in the historic Kirkland Lake gold camp comprising 230km2 of prime exploration lands on trend with Osisko's flagship Canadian Malartic mine. Pursuant to the terms of the Agreement, Queenston shareholders will receive 0.611 of an Osisko share for each common share of Queenston held, implying an offer of CAD6.00 per share based on Osisko's closing price on the Toronto Stock Exchange (TSX) on November 9, 2012. The offer represents a 45% premium to Queenston's 30-day volume-weighted average price (VWAP) for the period ending November 9, 2012. The transaction values Queenston's equity at approximately CAD550 million on a fully diluted in-the-money basis and implies an enterprise value of approximately CAD400 million. Pro forma the transaction, Queenston shareholders will own approximately 12% of Osisko (based on fully diluted in-the-money shares outstanding). Full Article
Osisko Mining Corp Acquires Ground in Emerging Gold Belt in Mexico
Osisko Mining Corp announced that it has acquired through staking approximately one million hectares of ground in an emerging gold rich mineral belt in Mexico. Full Article
Premium Exploration Inc Closes $500,000 Non-Brokered Private Placement with Osisko Mining Corp
Premium Exploration Inc announced that effective August 30, 2012 it has closed a non-brokered private placement (the Private Placement) with Osisko Mining Corp for 7,142,857 units (each a Unit) of the Company to raise gross proceeds of $500,000 at a price of $0.07 per share. Each Unit is comprised of one common share (a Share) and one common share purchase warrant (a Warrant). Each Warrant entitles the holder to acquire an additional Share of the Company at a price of $0.20 per Share for a period of 3 years from the date of issuance. In connection with the Private Placement, a non-cash commission was paid comprised of broker warrants entitling the holder to acquire 3,000,000 Shares of the Company at a price of $0.15 per Share for a period of two years from the date of issuance. The securities issued under the Private Placement are subject to a four-month hold period from the date of issuance expiring on December 31, 2012. The net proceeds of the Private Placement will be for the advancement of the Company's Idaho Gold Project and for additional working capital. Full Article
Osisko Mining Corporation Announces Acquisition Of Subscription Receipts Of Druk Capital Partners Inc.
Druk Capital Partners Inc announced that it acquired 7,770,000 subscription receipts (the Receipts) of Druk Capital Partners Inc. (Druk) at a price of $0.25 per subscription receipt for a total purchase price of $1.9 Million entitling the Corporation to receive 7,770,000 common shares of Druk upon satisfaction of certain release conditions pertaining to the qualifying transaction of Druk's non- brokered private placement. As a result of the transaction announced herein and upon satisfaction of the release conditions, Osisko will own 7,770,000 common shares of Druk shares representing approximately 19.89% of the 39,055,551 issued and outstanding common shares on a fully diluted basis. Osisko Mining Corporation: Acquisition of Subscription Receipts of Druk Capital Partners Inc. Full Article
Osisko Mining Corp. Amends Credit Agreement With CPPIB Credit Investments Inc
Osisko Mining Corp. announced that it has entered into an agreement to amend its $150 million credit facility with CPPIB Credit Investments Inc. wholly-owned subsidiary of the CPP Investment Board, with CPPIB making available to the Company an additional $100 million delayed draw term loan.The key terms of the amendment are as follows: The initial cash repayment schedule has been extended by one year to June 30, 2013. The reimbursements are based on 50% free cash flow up to $60 million per annum. CPPIB will make available a delayed draw term loan of $100 million for working capital and general corporate purposes. Osisko may draw funds under this facility in $20 million increments, and any funds outstanding are reimbursable by December 31, 2013. There are no standby fees related to this tranche. Osisko and CPPIB have agreed that security on property and assets not relating to Osisko's Canadian Malartic Mine will be released after December 31, 2013 upon making of the initial quarterly mandatory repayment in an amount of not less than $15 million, based on 50% free cash flow. All advances carry an interest rate of 7.5%. n addition, Osisko has agreed to modifications of the existing warrants held by CPPIB. Osisko has applied to the Toronto Stock Exchange for approval to amend the exercise price of each of the 7 million Tranche A common share purchase warrants issued in September 2009 and each of the 5.5 million Tranche B common share purchase warrants issued in March 2010. Full Article
UPDATE 2-Canadian miners cut jobs, spending as metal prices fall
* Endeavour Silver to defer 20 pct of capital investments in 2013
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