Osisko Mining Inc.
TSX : OSK

Osisko Mining Inc.

August 29, 2016 20:22 ET

Osisko Mining Inc. Ceases to Be Insider of Metals Creek Resources Corp.

TORONTO, ONTARIO--(Marketwired - Aug. 29, 2016) - Osisko Mining Inc. (TSX:OSK) (the "Corporation") announces that it has ceased to be an insider of Metals Creek Resources Corp. ("Metals Creek"). On August 19, 2016, Metals Creek closed a private placement (the "Private Placement") of 13,700,000 units of Metals Creek (each a "Unit"), with each Unit consisting of one common share of Metals Creek and one common share purchase warrant of Metals Creek. The Corporation did not participate in the Private Placement. However, after giving effect to the number of common shares of Metals Creek issued under the Private Placement, the holdings of the Corporation decreased to less than 10% of the issued and outstanding common shares of Metals Creek on a non-diluted basis.

Immediately prior to the Private Placement, the Corporation had beneficial ownership and control of an aggregate of 3,635,000 common shares of Metals Creek, representing approximately 11.6% of the issued and outstanding common shares of Metals Creek on a non-diluted basis. Immediately after the Private Placement, the Corporation had beneficial ownership and control of an aggregate of 3,635,000 common shares of Metals Creek, representing less than 10% of the issued and outstanding common shares of Metals Creek on a non-diluted basis.

The Corporation reviews its holdings from time to time and may increase or decrease its position as future circumstances may dictate.

This news release is being issued in accordance with National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated August 29, 2016. The early warning report respecting the occurrence giving rise to this filing has been filed on System for Electronic Document Analysis and Review ("SEDAR") at www.sedar.com under Metals Creek's issuer profile. To obtain a copy of the early warning report filed by the Corporation, please contact John Burzynski at (416) 363-8653 or refer to the SEDAR at www.sedar.com under Metals Creek's issuer profile.

Contact Information

  • John Burzynski
    President & Chief Executive Officer
    Telephone: (416) 363-8653

    The Corporation's head office is located at:
    155 University Avenue, Suite 1440
    Toronto, Ontario
    M5H 3B7