O3 Mining Shareholders Approve Second-Step Acquisition by Agnico Eagle

O3 Mining Shareholders Approve Second-Step Acquisition by Agnico Eagle

(All amounts expressed in Canadian dollars unless otherwise noted)

TORONTO, March 17, 2025 /CNW/ - O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining") is pleased to announce that, at a special meeting (the "Meeting") of holders of common shares of O3 Mining (the "Common Shares") held today at 10:00 a.m. (Toronto time), shareholders approved the amalgamation (the "Amalgamation") of O3 Mining and Agnico Eagle Abitibi Acquisition Corp., a wholly-owned subsidiary of Agnico Eagle Mines Limited ("Agnico Eagle").  The Amalgamation was approved by over 99.9% of the votes cast at the Meeting in person or represented by proxy. 

The Amalgamation constitutes the subsequent acquisition transaction contemplated by Agnico Eagle's board-supported take-over bid to acquire O3 Mining. Under the Amalgamation, shareholders of O3 Mining, other than Agnico Eagle, will receive $1.67 in cash per Common Share.

Closing of the Amalgamation is expected to occur on March 18, 2025.  Additional information concerning the Amalgamation is contained in the notice of special meeting and management information circular of O3 Mining (the "Circular") mailed to shareholders in connection with the Meeting.  The Circular is available under O3 Mining's issuer profile on SEDAR+ at www.sedarplus.ca as well as on its website at www.O3mining.com.  

About O3 Mining Inc.

O3 Mining Inc. is a gold explorer and mine developer in Québec, Canada, adjacent to Agnico Eagle's Canadian Malartic mine. O3 Mining owns a 100% interest in all its properties (128,680 hectares) in Québec. Its principal asset is the Marban Alliance project in Québec, which O3 Mining has advanced over the last five years to the cusp of its next stage of development, with the expectation that the project will deliver long-term benefits to stakeholders.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation that is based on current expectations, estimates, projections, and interpretations about future events as at the date of this news release. Forward-looking information and statements are based on estimates of management by O3 Mining, at the time they were made, and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information or statements. Forward-looking statements in this news release include, but are not limited to, statements regarding: the structure, timing and completion of the Amalgamation, and the timing for the completion of the Amalgamation. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include, without limitation, expectations relating to the Amalgamation; and the consideration, timing and completion of the Amalgamation. O3 Mining cautions that the foregoing list of material factors and assumptions is not exhaustive. Although the forward-looking information contained in this news release is based upon what O3 Mining believes, or believed at the time, to be reasonable expectations and assumptions, there is no assurance that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither O3 Mining, nor Agnico Eagle nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. O3 Mining does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable law. These statements speak only as of the date of this news release. Nothing contained herein shall be deemed to be a forecast, projection or estimate of the future financial performance of Agnico Eagle or any of its affiliates or O3 Mining.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE O3 Mining Inc.