Brett Resources Inc. (TSX VENTURE: BBR) (FRANKFURT: A4N) is pleased
to announce that Osisko Mining Corporation ("Osisko") (TSX:
OSK)(FRANKFURT: EWX) announced today that it has mailed
shareholders of Brett Resources Inc. ("Brett") and filed with the
Canadian securities regulatory authorities and the U.S. Securities
and Exchange Commission, the offer and take-over bid circular
(collectively the "Offer Documents"), formally commencing Osisko's
friendly offer to acquire (the "Offer") all of the outstanding
common shares of Brett on the basis of 0.34 of an Osisko common
share and $0.0001 in cash for each common share of Brett. As
previously announced, Osisko and Brett entered into a support
agreement ("Support Agreement") on March 21, 2010 providing for the
terms of the Offer and the agreement by the board of directors of
Brett to recommend that Shareholders accept the Offer. The
consideration under the Offer represents a premium of 52.5% using
the 20-day volume weighted average prices of Osisko and Brett
quoted on the Toronto Stock Exchange and TSX Venture Exchange,
respectively, for the 20 trading day period ending March 16, 2010.
In addition, Brett has prepared a Directors Circular in
accordance with Canadian securities law requirements, which
confirms that the board of directors of Brett has unanimously
approved the Offer, has determined it is fair and is in the best
interests of Brett and the Shareholders, and that the board of
directors of Brett unanimously recommends that Shareholders accept
the Offer and tender their Brett common shares to the Offer. The
Directors Circular was mailed concurrently with the Offer
Documents.
Full details of the Offer are contained in the Offer Documents
and the Directors Circular. Shareholders are encouraged to read the
documents and to consider the important information contained
therein. Copies of the Offer Documents and Directors Circular along
with other relevant documents are available electronically at
www.sedar.com. The Offer is open for acceptance until 5:00 p.m.
(Toronto time) on May 19, 2010.
Patrick Soares, President and CEO of Brett commented,
"Shareholders and other stakeholders who expressed satisfaction
with the acknowledged expertise and financial strength Osisko
brings to the development of Hammond Reef and the possible
accelerated development path directed by Osisko's experienced team,
which has a proven record of mine permitting and development."
Osisko has retained Kingsdale Shareholder Services Inc. to act
as both its information agent and depositary in connection with the
Offer.
About Osisko Mining Corporation
Osisko Mining Corporation is currently developing the Canadian
Malartic gold deposit and evaluating adjacent areas for a
large-scale open pit, bulk-tonnage mining operation. The Canadian
Malartic deposit currently represents one of the biggest gold
reserves in Canada for a single deposit, and is still growing
through ongoing drilling on new mineralized zones. Current reserves
for the Canadian Malartic property (including the adjacent South
Barnat deposit) are 8.97 million ounces, plus a global measured and
indicated resource of 2.23 million ounces and an inferred resource
of 0.47 million ounces (see press release of February 10,
2010).
About Brett Resources Inc.
Brett Resources Inc. is a Canadian minerals exploration company
whose primary mandate is the discovery, acquisition, and
development of precious metals systems, with particular expertise
in Canada and Latin America. Since 2006 Brett's primary focus has
been the 100 percent owned Hammond Reef Gold Deposit in Ontario
where an inferred resource of 6.70 million ounces of gold, 259.4
million tonnes at a grade of 0.8 grams per tonne utilizing a 0.3
gram per tonne gold cut-off has been outlined.
FOR FURTHER INFORMATION
Shareholders should contact the Information Agent, Kingsdale
Shareholder Services Inc. at 1-877-659-1824, for assistance in
accepting the Offer and in depositing their Brett common shares.
Brett common shares should be deposited under the Offer with the
depositary, being Kingsdale Shareholder Services Inc. Shareholders
whose common shares are registered in the name of an investment
advisor, stock broker, bank, trust company or other nominee should
immediately contact that nominee for assistance if they wish to
accept the Offer in order to take the necessary steps to be able to
deposit such common shares under the Offer.
This press release does not constitute an offer to buy or an
invitation to sell, or the solicitation of an offer to buy or
invitation to sell, any of the securities of Osisko or Brett. Such
an offer may only be made pursuant to an offer and take-over bid
circular filed with the securities regulatory authorities in
Canada.
Osisko has also filed with the U.S. Securities and Exchange
Commission ("SEC") a Registration Statement, which includes the
offer and take-over bid circular and prospectus relating to its
offer to Brett shareholders. OSISKO URGES INVESTORS AND SECURITY
HOLDERS TO READ THE REGISTRATION STATEMENT, THE OFFER AND TAKE-OVER
BID CIRCULAR AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE
SEC AND CANADIAN SECURITIES REGULATORY AUTHORITIES, BECAUSE THEY
CONTAIN IMPORTANT INFORMATION. Investors may obtain a free copy of
the offer and take-over bid circular and other documents filed by
Osisko with the Canadian securities regulators at www.sedar.com and
with the SEC at the SEC's website at www.sec.gov. The offer and
take-over bid circular and other documents may also be obtained for
free, from Osisko's website (www.osisko.com) or by directing a
request to Osisko's investor relations department by telephone at
1-888-674-7563, fax 514.933.3290 or e-mail ir@osisko.com or by
contacting the Information Agent, Kingsdale Shareholder Services
Inc., toll free at 1-877-659-1824.
Forward-Looking Information
Certain statements contained in this press release may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical fact, that address events or
developments that Osisko and Brett expect to occur, are forward
looking statements. Forward looking statements are statements that
are not historical facts and are generally, but not always,
identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "potential",
"scheduled" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur. Although Osisko
and Brett believe the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
including, without limitation that all technical, economical and
financial conditions will be met in order to put the Canadian
Malartic Project and the Hammond Reef Gold Project into commercial
production, such statements are not guarantees of future
performance and actual results may differ materially from those in
forward looking statements. Factors that could cause the actual
results to differ materially from those in forward-looking
statements include gold prices, access to skilled consultants,
mining development and mill production personnel, results of
exploration and development activities, Osisko and Brett's limited
experience with production and development stage mining operations,
uninsured risks, regulatory changes, defects in title, availability
of personnel, materials and equipment, timeliness of government
approvals, actual performance of facilities, equipment and
processes relative to specifications and expectations,
unanticipated environmental impacts on operations market prices,
continued availability of capital and financing and general
economic, market or business conditions. These factors are
discussed in greater detail in Osisko and Brett's most recent
Annual Information Forms, both of which are filed on SEDAR, which
also provide additional general assumptions in connection with
these statements. Osisko and Brett caution that the foregoing list
of important factors is not exhaustive. Investors and others who
base themselves on the forward-looking statements contained herein
should carefully consider the above factors as well as the
uncertainties they represent and the risk they entail. Osisko and
Brett believe that the expectations reflected in those
forward-looking statements are reasonable, but no assurance can be
given that these expectations will prove to be correct and such
forward-looking statements included in this press release should
not be unduly relied upon. These statements speak only as of the
date of this press release.
Contacts: Brett Resources Tony Perri Manager, Investor Relations
(604) 488-0008 (604) 669-2543 (FAX) tperri@brettresources.com
www.brettresources.com Wani Capital Raju Wani (403) 240-0555 Osisko
Mining Corporation John Burzynski Vice-President Corporate
Development (416) 363-8653 Osisko Mining Corporation Sylvie
Prud'homme Investor Relations (514) 735-7131 or Toll Free: 1 (888)
674-7563 www.osisko.com
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