representative work

Cassels Represents the Underwriters in O3 Mining’s $40.2 Million Private Placement

06/19/2020

On June 19, 2020, O3 Mining Inc. closed a bought deal brokered private placement of (i) an aggregate of 4,651,200 flow-through units at a price of $4.30 per flow-through unit for aggregate gross proceeds of approximately $20 million, and (ii) an aggregate 8,599,810 units at a price of $2.35 per unit for aggregate gross proceeds of approximately $20.2 million, which includes the exercise in full of the underwriters’ option and additional subscribers on O3 Mining’s President’s List. The gross proceeds of the offering are approximately $40.2 million.

Each flow-through unit consists of one common share and one-half of one common share purchase warrant of O3 Mining, which qualify as flow-through shares. Each unit consists of one common share and one-half of one warrant. Each warrant will entitle the holder thereof to purchase one common share of O3 Mining at an exercise price of $3.25 for a period of 24 months from the closing date.

The offering was led by Cormark Securities Inc., Sprott Capital Partners LP and Canaccord Genuity Corp., as co-lead underwriters and joint bookrunners, on behalf of a syndicate of underwriters.

Cassels acted for the underwriters with a deal team that included Chad Accursi, Randall Blom, Tiffany Chiu and Heesoo Kim (Securities and Mining) and Chris Norton (Tax).