Business
Pine Point Mining Shareholders Approve Plan of Arrangement
Montreal, Quebec and Toronto, Ontario--(Newsfile Corp. - February 16, 2018) - Osisko Metals I...
About this update from Osisko Metals Incorporated
[{"type":"text","content":"Pine Point Mining Shareholders Approve Plan of ArrangementMontreal, Quebec and Toronto, Ontario--(Newsfile Corp. - February 16, 2018) - Osisko Metals Incorporated (TSXV: OM) (\"Osisko Metals\") and Pine Point Mining Limited (TSXV: ZINC) (\"Pine Point\") are pleased to announce that the special resolution in connection with their previously announced proposed business combination to be completed by way of a plan of arrangement (the \"Arrangement\") was overwhelmingly approved today at the special meeting of shareholders of Pine Point (the \"Meeting\").Shareholder ApprovalsAt the Meeting, the special resolution authorizing the Arrangement was approved by (i) 98.36% of the shareholders of Pine Point present in person or represented by proxy at the Meeting, and (ii) 98.06% of the minority shareholders of Pine Point present in person or represented by proxy at the Meeting.Arrangement UpdateCompletion of the Arrangement remains subject to, among other things, satisfaction of all conditions precedent to closing the Arrangement, including the final approval of the Ontario Superior Court of Justice (Commercial List). The hearing for the final order of the Ontario Superior Court of Justice (Commercial List) to approve the Arrangement is scheduled to take place on February 21, 2018. Assuming that all approvals are obtained and all conditions precedent are satisfied or waived, Osisko Metals and Pine Point currently anticipate the closing of the Arrangement to occur on or about February 23, 2018.About Osisko Metals IncorporatedOsisko Metals is a Canadian exploration and development company creating value in the base metal markets with an emphasis on zinc. In 2017, Osisko Metals acquired over 50,000 hectares in the Bathurst Mining Camp. The objective is to develop a multi-deposit asset base that would feed a central concentrator. In parallel, Osisko Metals is monitoring several base metal oriented peers for acquisition opportunities. In Québec, Osisko Metals acquired 42,000 hectares that cover 12 grass-root zinc targets that will be selectively advanced through exploration. Osisko Gold Royalties Ltd. (TSX/NYSE: OR) and Osisko Mining Inc. (TSX: OSK) are significant shareholders of the company.For further information about Osisko Metals, visit www.osiskometals.com or contact:Jeff HusseyPresident & CEOOsisko Metals I...