1844 Resources Inc V.EFF

Neighbourly copper news

[Tim2Agami]

Mr. Rogers would be pleased 

MONTREAL, March 28, 2022 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the “Company” or “Osisko Metals”) (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to announce that it signed, on March 25 2022, a binding term sheet with Glencore Canada Corporation (“Glencore” and collectively the “Parties”), providing Osisko Metals with an option (the “Option”) to acquire a 100% interest in the past-producing Gasp Copper Mine (“Gasp Copper”) located near Murdochville, Qubec for an up-front payment of US$25 million, to be paid by Osisko Metals by way of a convertible note issued to Glencore 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.