Thursday, January 5, 2012

Osisko Faces "Mini-Tender" Offer


Osisko Mining has become the target of an unsolicited mini-tender offer.

The company, proposing an open-pit gold mine near Atikokan, says it neither recommends nor endorses the bid from TRC Capital.

TRC wants to acquire up to $5-million in Osisko shares at a discounted rate.

Mini-tender offers are designed to seek less than 5 per cent of a company's outstanding shares.