O3 Mining Inc. is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. on behalf of a syndicate of underwriters , pursuant to which the Underwriters have agreed to purchase, on a "bought deal" basis, 13,660,000 units of the Corporation , at a price of $1.10 per Unit for gross proceeds of $15,026,000 . Each Unit will consist of one common share of the Corporation and one-half of one common share purchase warrant . Each Warrant will entitle the holder thereof to acquire one common share of the Corporation at a price of $1.45 for a period of 24 months following the Closing Date . The Corporation will grant the Underwriters an option to purchase up to an additional 2,049,000 Units to cover over-allotments, if any, and for market stabilization pur...