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O3 Mining closes all-scrip purchase of Alexandria Minerals

O3 Mining Inc. said Aug. 1 that it completed its previously announced acquisition of Alexandria Minerals Corp. and its Cadillac Break gold property in Quebec.

In the deal, the Osisko Mining Inc. spinoff will issue 9,557,956 shares to Alexandria, whose shareholders will receive 0.018041 of an O3 Mining share for each Alexandria share held.

O3 Mining also reserved 1,627,709 shares for issuance upon the exercise of outstanding Alexandria options and warrants.

Alexandria had renewed support for O3 Mining's offer after Agnico Eagle Mines Ltd. withdrew its bid which the target had deemed superior.