O3 Mining Inc (CVE:OIII) (OTCQX:OIIIF) CEO Jose Vizquerra tells Proactive the group has agreed to sell its wholly-owned Northern Gold Mining subsidiary to Moneta Porcupine Mines Inc (TSE:ME) (OTCMKTS:MPUCF) (FRA:MOP) in exchange for 149,507,273 Moneta common shares, which would give O3 Mining a 30.1% ownership interest in Moneta Porcupine.
Vizquerra explains how the sale unlocks value for shareholders, through its investment in, and ongoing support of its new partner.