Osisko Mining Corporation: Acquisition of Subscription Receipts of Druk Capital Partners Inc.
24.07.2012 | Marketwire
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES AND NOT FOR DISSEMINATION IN THE UNITED STATESMONTREAL, QUEBEC -- (Marketwire - July 24, 2012) - Osisko Mining Corporation ("Osisko") (TSX:OSK) (FRANKFURT:EWX) announces 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 did not own any shares or other securities of Druk prior to the private placement. For the purposes of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, the address of Osisko is 1100 avenue des Canadiens-de-Montreal, Bureau 300, Montreal, Quebec, H3B 2S2.
This transaction was made for investment purposes and Osisko may acquire additional securities. However, Osisko has no intention of becoming a control person of Druk.
About Osisko Mining Corporation
Osisko Mining Corporation operates the Canadian Malartic Gold Mine in Malartic, Quebec and is pursuing exploration on a number of properties, including the Hammond Reef Gold Project in Northern Ontario.
Contact Information
John Burzynski, Vice-President Corporate Development
(416) 363-8653
Sylvie Prud'homme, Investor Relations
(514) 735-7131
Toll Free: 1-888-674-7563
www.osisko.com