Osisko Mining Acquires Brett Resources for Approximately $372M

On May 19, 2010, Osisko Mining Corporation was successful in its offer to acquire Brett Resources Inc. by way of take-over bid, with a total of 88,295,814 common shares of Brett having been validly deposited at the expiry time of the offer representing approximately 77.28 per cent of Brett's issued and outstanding common shares. Osisko offered shareholders of Brett 0.34 of an Osisko common share for each common share of Brett held. The consideration under the offer represented a premium of 52.5 per cent using the 20-day volume weighted average prices of Osisko and Brett on the TSX and TSX Venture, respectively for the 20 trading day period ending March 16, 2010 (the last trading day prior to the announcement of the transaction). The value of the total consideration offered to the Brett shareholders was approximately $372 million calculated on a fully diluted basis. The boards of directors of both companies unanimously approved the transaction and the board of directors of Brett recommended that its shareholders tender to the Osisko offer.

Osisko 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.

Osisko was represented by Fraser Milner Casgrain LLP with a team that included John Sabine, Linda Misetich, Sander Grieve, Ralph Shay, Eric Foster and Liz Fraser (securities), Zahra Nurmohamed and Matthew Peters (tax).

Brett was represented by DuMoulin Black LLP with a team that included Corey Dean, Jason Sutherland and Daniel McElroy (securities).


Zahra Nurmohamed Jason T. Sutherland Corey M. Dean Linda E. Misetich Dann Elizabeth Valente Ralph H. Shay Eric L. Foster John W. Sabine Sander Grieve


Dentons Canada LLP DuMoulin Black LLP