Osisko Mining Corporation has finalized its acquisition of Brett Resources and its flagship Hammond Reef gold property in northwestern Ontario.
Brett shareholders have endorsed the offer by the Montreal miner which is also developing its Canadian Malartic gold deposit in Quebec's Abitibi region into a producing mine by mid-2011.
"We would like to thank the Brett shareholders for their support and to welcome them to Osisko in our quest to become the next leading intermediate gold producer," said Sean Roosen, president and CEO of Osisko in a statement.
Osisko has taken up 88,295,814 common shares of Brett, representing 77 per cent of Brett's issued and outstanding common shares.
Brett has been worked its Hammond Reef project, near Atikokan, since 2006. The property has an inferred resource of 6.70 million ounces of gold, 259.4 million tonnes at a grade of 0.8 grams per tonne.
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