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Osisko disposes of shares in three companies

25th July 2016

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

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JOHANNESBURG (miningweekly.com) – TSX-listed precious metals company Osisko Mining has disposed of several million shares in fellow TSX-listed explorers, including 1.29-million common shares in Metals Creek Resources and 6.25-million common shares in IDM Mining, for the consideration of $133 891 and $1.37-million, respectively.

The company now has 11.6% of issued and outstanding shares left in Metals Creek, down from 15.8%, though it retained 11.8% in IDM, down from 14.6%.

Osisko, which rebranded from project consolidator Oban Mining in June, also filed an early warning report in respect of its holdings in Vancouver-based gold explorer BonTerra Resources.

On July 7, the corporation acquired, by way of a private placement of BonTerra ownership, control over 1.5-million BonTera units at a price of $0.50 a unit for a total consideration of $750 000, leaving Osisko with a 9.5% stake.

The company did not divulge its reasons for the disposals.

Edited by Samantha Herbst
Creamer Media Deputy Editor

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