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Osisko cuts shareholding at Metals Creek, IDM Mining

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Osisko cuts shareholding at Metals Creek, IDM Mining

Osisko MiningInc. said July 22 that it has disposed of 1,295,000 common sharesof Metals Creek ResourcesCorp. at 10 Canadian cents each for a total consideration of C$133,891.50and 6,251,500 common shares of IDM Mining Ltd. at 22 cents each for C$1.4 million.

Osisko now owns or controls 3,635,000 common shares ofMetals Creek, representing 11.6% of the company's issued and outstanding commonon a non-diluted basis, down from 4,930,000 common shares representing 15.8% ofthe company's shares.

Osisko's holdings in IDM, meanwhile, now stand at 11.8% with25,992,944 common shares, down from 14.6% with 32,244,444 common shares, on anon-diluted basis.

The company decided to decrease its interests in thecompanies following a review of the market and other conditions.