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TSXV:OIII | OTCQX:OIIIF - O3 Mining

TORONTO, June 19, 2023 /CNW/ - O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation") is pleased to announce that it has completed a C$10 million private placement (the "Placement") with a strategic investor (the "Investor"), pursuant to which O3 Mining issued to the Investor a senior unsecured convertible debenture in an aggregate principal amount of C$10 million (the "Debenture"). The Debenture bears fixed interest at a rate of 10% per annum, payable semi-annually, half of which is payable in cash and half of which is payable, at the Corporation's election, in either common shares of the Corporation ("Common Shares") or in cash, and will mature on June 19, 2028 (the "Maturity Date"). The Debenture is a direct, unsecured obligation of the Corporation and ranks equally in right of payment with all existing and future unsecured and unsubordinated indebtedness of the Corporation.