Osisko Metals signs option agreement to acquire Gaspe Copper Mine from Glencore Canada

On March 28, Canadian exploration and development company Osisko Metals Incorporated announced that it signed, on March 25 2022, a binding term sheet with Glencore Canada Corporation, providing Osisko Metals with an option to acquire a 100% interest in the past-producing Gaspe Copper Mine located near Murdochville, Québec for an up-front payment of US$25 million, to be paid by Osisko Metals by way of a convertible note issued to Glencore Canada upon the successful closing of the transaction, and a cash payment of US$20 million, payable upon start of commercial production.

The company must also incur drilling costs of C$5 million before June 30, 2022, to test oxidation levels within the mineralization that surrounds the historical Mount Copper open pit deposit.
.Asian Metal CopyrightOn March 28, Canadian exploration and development companyOsisko Metals Incorporated announced that it signed, on March 25 2022, a binding term sheet with Glencore Canada Corporation, providing Osisko Metals with an option to acquire a 100% interest in the past-producing Gaspe Copper Mine located near Murdochville, Québec for an up-front payment of US$25 million, to be paid by Osisko Metals by way of a convertible note issued to Glencore Canada upon the successful closing of the transaction, and a cash payment of US$20 million, payable upon start of commercial productionAsian Metal Copyright