|By Marketwired .||
|February 4, 2014 06:26 PM EST||
MONTREAL, QUEBEC -- (Marketwired) -- 02/04/14 -- Osisko Mining Corporation ("Osisko" or the "Company") (TSX: OSK)(FRANKFURT: EWX) reports on developments today in the proceeding (the "Proceeding") it commenced against Goldcorp Inc. ("Goldcorp") in the Quebec Superior Court on January 29, 2014, in response to Goldcorp's hostile take-over bid that was made on January 14, 2014 (the "Hostile Bid").
In the Proceeding, Osisko alleges that, in making the Hostile Bid, Goldcorp misused confidential information and otherwise acted in a manner not permitted by the confidentiality agreement between the parties (the "Confidentiality Agreement"). Osisko also alleges that, prior to launching the Hostile Bid, Goldcorp acted in bad faith and in a manner contrary to applicable law. In the Proceeding, Osisko seeks an order enjoining the Hostile Bid and further conduct by Goldcorp that Osisko alleges is in breach of the Confidentiality Agreement.
The Quebec Superior Court today held a hearing to schedule additional steps in the Proceeding. The Court fixed a timetable under which the merits of Osisko's complaints against Goldcorp will be determined at a trial to be held in Montreal from March 3 to 5, 2014. In connection with the scheduling of the trial, Goldcorp has undertaken that it will not, prior to March 6, 2014, apply to the Bureau de decision et de revision to cease trade Osisko's shareholder rights plan, which was approved by Osisko's shareholders in 2013 with the support of over 97% of shareholders voting. Goldcorp has also undertaken, prior to the release of the Court's judgment from trial, not to take up and pay for Osisko shares tendered to the Hostile Bid.
The Hostile Bid is currently scheduled to expire on February 19, 2014. As previously stated, including in its recent Directors' Circular, Osisko's Board of Directors believes that the Hostile Bid is opportunistic and financially inadequate and threatens to deprive Osisko's shareholders of adequate consideration for their shares. As such, the Board of Directors has unanimously recommended that Osisko shareholder REJECT the Hostile Bid and NOT TENDER their Osisko shares to the Hostile Bid.
The Company's Board of Directors is aggressively pursuing value maximizing alternatives that are in the best interests of Osisko, the Osisko shareholders and other stakeholders.
About Osisko Mining Corporation
Osisko Mining Corporation operates the Canadian Malartic Gold Mine in Malartic, Quebec and is pursuing exploration on a number of properties in Ontario and Mexico.
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 expects 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", "alleges", "believes", "intends", "estimates", "projects", "potential", "scheduled" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur including, without limitation, the value of the assets of Osisko and Goldcorp, the price of gold and other metals, competitive conditions in the mining industry, general economic conditions, changes in laws, rules and regulations applicable to Osisko and Goldcorp, whether or not Osisko's Quebec proceeding against Goldcorp will be successful and whether or not any alternative transaction superior to the Hostile Bid may emerge. Although Osisko believes 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 achieve such events qualified by the foregoing cautionary note regarding forward looking statements, 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 uncertainty in the outcome of legal proceedings, gold prices, access to skilled consultants, mining development and construction personnel, results of exploration and development activities, Osisko's limited experience with production and mining operations, uninsured risks, regulatory framework and 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, the availability of alternative transactions. Many of these factors are discussed in greater detail in Osisko's most recent Annual Information Form and in the most recent Management Discussion and Analysis filed on SEDAR, which also provide additional general assumptions in connection with these statements. Osisko cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. Osisko believes 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.
Vice-President Corporate Development
Director of Investor Relations
Toll Free: 1-888-674-7563
What are the successful IoT innovations from emerging markets? What are the unique challenges and opportunities from these markets? How did the constraints in connectivity among others lead to groundbreaking insights? In her session at @ThingsExpo, Carmen Feliciano, a Principal at AMDG, will answer all these questions and share how you can apply IoT best practices and frameworks from the emerging markets to your own business.
Jul. 24, 2016 04:15 PM EDT Reads: 1,534
Ask someone to architect an Internet of Things (IoT) solution and you are guaranteed to see a reference to the cloud. This would lead you to believe that IoT requires the cloud to exist. However, there are many IoT use cases where the cloud is not feasible or desirable. In his session at @ThingsExpo, Dave McCarthy, Director of Products at Bsquare Corporation, will discuss the strategies that exist to extend intelligence directly to IoT devices and sensors, freeing them from the constraints of ...
Jul. 24, 2016 03:45 PM EDT Reads: 1,714
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Jul. 24, 2016 03:30 PM EDT Reads: 882
SYS-CON Events announced today the Kubernetes and Google Container Engine Workshop, being held November 3, 2016, in conjunction with @DevOpsSummit at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA. This workshop led by Sebastian Scheele introduces participants to Kubernetes and Google Container Engine (GKE). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, students learn the key concepts and practices for deploying and maintainin...
Jul. 24, 2016 03:30 PM EDT Reads: 575
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Jul. 24, 2016 03:15 PM EDT Reads: 1,664
Cloud analytics is dramatically altering business intelligence. Some businesses will capitalize on these promising new technologies and gain key insights that’ll help them gain competitive advantage. And others won’t. Whether you’re a business leader, an IT manager, or an analyst, we want to help you and the people you need to influence with a free copy of “Cloud Analytics for Dummies,” the essential guide to this explosive new space for business intelligence.
Jul. 24, 2016 03:15 PM EDT Reads: 551
Traditional IT, great for stable systems of record, is struggling to cope with newer, agile systems of engagement requirements coming straight from the business. In his session at 18th Cloud Expo, William Morrish, General Manager of Product Sales at Interoute, outlined ways of exploiting new architectures to enable both systems and building them to support your existing platforms, with an eye for the future. Technologies such as Docker and the hyper-convergence of computing, networking and sto...
Jul. 24, 2016 03:00 PM EDT Reads: 996
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
Jul. 24, 2016 02:30 PM EDT Reads: 740
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, discussed the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filterin...
Jul. 24, 2016 02:00 PM EDT Reads: 1,183
IoT generates lots of temporal data. But how do you unlock its value? You need to discover patterns that are repeatable in vast quantities of data, understand their meaning, and implement scalable monitoring across multiple data streams in order to monetize the discoveries and insights. Motif discovery and deep learning platforms are emerging to visualize sensor data, to search for patterns and to build application that can monitor real time streams efficiently. In his session at @ThingsExpo, ...
Jul. 24, 2016 01:30 PM EDT Reads: 795
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
Jul. 24, 2016 01:00 PM EDT Reads: 976
Early adopters of IoT viewed it mainly as a different term for machine-to-machine connectivity or M2M. This is understandable since a prerequisite for any IoT solution is the ability to collect and aggregate device data, which is most often presented in a dashboard. The problem is that viewing data in a dashboard requires a human to interpret the results and take manual action, which doesn’t scale to the needs of IoT.
Jul. 24, 2016 12:00 PM EDT Reads: 1,866
When building large, cloud-based applications that operate at a high scale, it’s important to maintain a high availability and resilience to failures. In order to do that, you must be tolerant of failures, even in light of failures in other areas of your application. “Fly two mistakes high” is an old adage in the radio control airplane hobby. It means, fly high enough so that if you make a mistake, you can continue flying with room to still make mistakes. In his session at 18th Cloud Expo, Lee...
Jul. 24, 2016 12:00 PM EDT Reads: 1,327
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2016 Silicon Valley. The 6thInternet of @ThingsExpo will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Jul. 24, 2016 12:00 PM EDT Reads: 1,882
Continuous testing helps bridge the gap between developing quickly and maintaining high quality products. But to implement continuous testing, CTOs must take a strategic approach to building a testing infrastructure and toolset that empowers their team to move fast. Download our guide to laying the groundwork for a scalable continuous testing strategy.
Jul. 24, 2016 11:45 AM EDT Reads: 1,845