Osisko Mining Inc. Files Early Warning Report in Respect of Beaufield Resources Inc.

TORONTO, ONTARIO--(April 5, 2017) - Osisko Mining Inc. (TSX:OSK) (the "Corporation") announces that it has filed an early warning report in respect of its holdings in Beaufield Resources Inc. ("Beaufield"). Through a series of trades ending on April 5, 2017, the Corporation, through its wholly-owned subsidiary O3 Investments Inc., acquired beneficial ownership of, or control and direction over, an aggregate of 3,947,800 common shares of Beaufield (collectively, the "Purchased Shares" and each, a "Purchased Share"). As a result of these trades, the Corporation, through its wholly-owned subsidiary O3 Investments Inc., acquired beneficial ownership of, or control and direction over, additional common shares of Beaufield in an amount equal to more than 2% of the outstanding common shares of Beaufield, thereby triggering the requirement to file this report. The Corporation paid aggregate consideration of $715,594.12 for the Purchased Shares, representing an average purchase price of approximately $0.18 per Purchased Share.

Immediately prior to the acquisition of the Purchased Shares, the Corporation, through its wholly-owned subsidiary O3 Investments Inc., had beneficial ownership of, or control and direction over, 31,700,000 common shares of Beaufield, representing approximately 16.1% of the number of issued and outstanding common shares of Beaufield. Immediately following the acquisition of the Purchased Shares, the Corporation, through its wholly-owned subsidiary O3 Investments Inc., had beneficial ownership of, or control and direction over, 35,647,800 common shares of Beaufield, representing approximately 18.1% of the number of issued and outstanding common shares of Beaufield.

 

The Corporation, through its wholly-owned subsidiary O3 Investments Inc., acquired the Purchased Shares for investment purposes. The Corporation has no current intention of increasing or decreasing its ownership of, or control or direction over, additional securities of Beaufield. The Corporation reviews its holdings from time to time and may increase or decrease its position as future circumstances may dictate.

 

This news release is being issued in accordance with National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated April 5, 2017. The early warning report respecting this transaction has been filed on System for Electronic Document Analysis and Review ("SEDAR") at www.sedar.com under Beaufield's issuer profile. To obtain a copy of the early warning report filed by the Corporation, please contact John Burzynski at (416) 363-8653 or refer to the SEDAR at www.sedar.com under Beaufield's issuer profile.

 

For further information on the Corporation please contact:

John Burzynski

President & Chief Executive Officer

(416) 363-8653

 

The Corporation's head office is located at

155 University Avenue, Suite 1440,

Toronto, Ontario M5H 3B7