North America-focused Osisko Development has agreed to sell its noncore San Antonio gold project, in Mexico’s Sonora state, to TSX-V-listed Axo Copper in an all-share transaction that will see Osisko retain a strategic 9.99% stake in the emerging copper/gold company. Axo will acquire Osisko’s wholly owned subsidiary Sapuchi Minera, which holds the San Antonio mineral concessions, subject to closing conditions and regulatory approvals. On completion, Osisko will receive about 15.3-million Axo shares – or such number as required to give it a 9.99% non-diluted interest. The company will also be eligible for a series of ... (full story)