O3 Mining Inc. (TSXV:OIII) acquired 100% stake in Eight groupings of advanced gold exploration claims in Quebec from Globex Mining Enterprises Inc. (TSX:GMX) for CAD 2 million on December 22, 2023. Under the purchase and sale agreement, O3 paid CAD 2 million to Globex at closing, consisting of CAD 0.15 million in cash and 1,185,897 common shares of O3. One-half of the O3 shares issued to Globex are subject to a six-month contractual hold period, and one-half of the shares are subject to a twelve-month contractual hold period. Globex has retained a 2.5% Gross Metal Royalty on 104 claims and a 1% GMR on the 52-claim G Block recently purchased by Globex. O3 will assume an underlying 2% net smelter returns royalty on the 52 claims. O3 may purchase 40% of the 2.5% GMR from Globex for CAD 1.5 million payable half in cash and half in O3 shares, at any time prior to the commencement of commercial production.

O3 Mining Inc. (TSXV:OIII) completed the acquisition of 100% stake in Eight groupings of advanced gold exploration claims in Quebec from Globex Mining Enterprises Inc. (TSX:GMX) on December 22, 2023.