Osisko Mining Corporation and Robert Wares, Executive Vice-president, Chief Operating Officer and Founder of the company, have just announced a joint gift of common shares of the company to McGill University in Montreal consisting of 250,000 personal shares from Mr. Wares and 250,000 treasury shares from Osisko.
Value of the shares is approximately $4.1 million.
Proceeds from these shares will go to the Department of Earth and Planetary Sciences and will help finance two new tenure-track positions in economic geology (faculty scholars), as well as a permanent program of fellowships, scholarships and field trip funding for students enrolled in geological sciences.
“During the last mineral exploration boom, we had a hard time finding geologists,” said Wares. “Earth sciences departments across the country have been chronically underfunded for the last fifteen years, some departments have even closed, and this has seriously hindered student enrollment. I am interested in backing dynamic young talent and encouraging students to enroll in earth sciences. New mineral discoveries and the future of the Canadian mining industry depend on a steady supply of qualified geologists, and I encourage the industry leaders in this country to get more involved in supporting our educational institutions.”