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O3 Mining closes C$10.1M private placement to fund Canadian exploration

O3 Mining Inc. completed a bought-deal brokered private placement of 2.4 million flow-through shares at C$4.20 each for total proceeds of about C$10.1 million.

The company said Sept. 26 that it will use the proceeds to fund Canadian exploration related to its projects in Quebec.

O3 Mining recently started a 50,000-meter drill program on its properties in Val d'Or, within the Abitibi gold district in Quebec to confirm, upgrade and expand its current resources.