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Glencore Canada Reduces Stake in Osisko Metals

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Glencore Canada agreed to sell 21.5-million share of Osisko Metals (OM.TO) worth C$34.31 million, reducing its stake in the company to 11.9% from 14.3% on a non-diluted basis.

The transaction is expected to close around July 29, Glencore Canada said late Monday.

Glencore Canada said it owns Osisko Metals shares for investment purposes, and may increase or decrease its shareholding based on the evaluation of Osisko Metals' business.

Osisko Metal shares closed down C$0.02 to C$1.65 Monday on the Toronto Stock Exchange.

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