Osisko Development Expands Financing Offer Amid High Demand
Osisko Development Increases Financing Offer to $75 Million
Osisko Development Corp. (NYSE: ODV, TSXV: ODV) is thrilled to reveal a significant update regarding its financing strategy. Due to overwhelming investor interest, the company has finalized an amendment to its existing agreement with underwriters, escalating the scale of its previously announced 'bought deal' offering from C$60 million to an impressive C$75 million.
Details of the Offering and Concurrent Private Placement
This strategic move will see the issuance of three tranches of shares, leveraging the 'listed issuer financing exemption' enabled under Canadian regulations. This method allows Osisko to offer national flow-through shares, British Columbia flow-through shares, as well as common shares of the company. The total gross proceeds from this aspect of the offering are projected to hover around C$50 million.
In parallel with this effort, the company has enacted a concurrent private placement that will also generate gross proceeds of roughly C$10 million. The recent amendment has led to an increase in the concurrent private placement by approximately C$15 million, culminating in a total of 5,230,200 Common Shares priced at C$4.78 per share, which amounts to C$25,000,356 in gross proceeds.
Anticipated Closing Date
The closing of both the LIFE Offering and the Concurrent Private Placement are projected to align on or around the closing date of October 29, 2025. Execution of these transactions will remain subject to several conditions, including necessary regulatory approvals from the relevant exchanges, such as the TSX Venture Exchange and the New York Stock Exchange. Moreover, any Common Shares resulting from this placement will be subject to a statutory hold period as per Canadian securities laws.
About Osisko Development Corp.
Osisko Development Corp. is a prominent player in the North American gold development sector, focusing on resource-rich mining camps within favorable jurisdictions. The company is on a mission to establish itself as an intermediate gold producer. Its flagship project, the Cariboo Gold Project, is a fully permitted, 100%-owned venture situated in central B.C.
In addition to Cariboo, Osisko’s portfolio includes the Tintic Project located in historic mining territory in Utah and the San Antonio Gold Project in Sonora, Mexico—each holding substantial exploration potential and backed by extensive historical mining data and infrastructure. The company aspires to develop long-lasting, socially responsible mining assets while significantly mitigating development risks and expanding its mineral resources.
Contact Information
If you have any queries or would like to learn more about Osisko Development, reach out to:
Sean Roosen
Chairman and CEO
Email: sroosen@osiskodev.com
Tel: +1 (514) 940-0685
Philip Rabenok
Vice President, Investor Relations
Email: prabenok@osiskodev.com
Tel: +1 (437) 423-3644
Frequently Asked Questions
What is the purpose of Osisko Development's financing?
Osisko Development seeks to fund its flagship gold projects and enhance its production capacity, capitalizing on favorable market conditions.
How much has the offering been increased?
The offering has been increased from C$60 million to C$75 million due to strong demand from investors.
When is the anticipated closing date for the financing?
The closing of the financing is expected to occur on or around October 29, 2025.
What are the key projects of Osisko Development?
Osisko Development's key projects include the Cariboo Gold Project in B.C., the Tintic Project in Utah, and the San Antonio Gold Project in Mexico.
Who can investors contact for more information?
Investors can reach out to Sean Roosen, CEO, or Philip Rabenok, VP of Investor Relations, for further inquiries regarding the company.
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