Osisko Development Successfully Completes Private Placement
Montreal, Québec – Osisko Development Corp. (NYSE: ODV, TSXV: ODV) is thrilled to inform investors and stakeholders that its recent private placement offering of units was met with overwhelming interest, resulting in an oversubscribed and fully allocated deal. This significant offering, initially announced recently, is expected to be finalized by mid-November, where approximately 31.9 million Units will be delivered at a price of $1.80 each, resulting in total gross proceeds of over $57 million. This positive response illustrates robust market confidence in Osisko Development and its vision for growth.
Details of the Offering
As part of the offering process, several critical conditions must be satisfied before the closing can take place. These include obtaining necessary approvals from regulatory bodies, specifically the New York Stock Exchange and the TSX Venture Exchange. Investors should also be aware that any securities issued through this offering will be under a mandated hold period, which is designated to expire four months from the closing date.
About Osisko Development Corp.
Osisko Development is dedicated to establishing itself as a prominent gold development company across North America. Focused on revitalizing former mining camps in regions that are known for their reliable mining operations, the company aims to achieve intermediate gold production status. Key projects in their portfolio include the Cariboo Gold Project, located in British Columbia, the Tintic Project situated in Utah, and the San Antonio Gold Project found in Sonora, Mexico. These projects not only benefit from past production but also boast significant brownfield exploration potential supported by ample historical mining data, existing infrastructure, and skilled personnel availability.
Strategic Development Plans
The company is pursuing a strategy aimed at cultivating long-lasting and environmentally sustainable mining properties. By minimizing development risk, Osisko Development is focused on expanding its mineral resource base while enhancing its project pipeline with promising exploration opportunities. This holistic approach is anticipated to drive Osisko's objectives forward while ensuring compliance with environmental and social responsibility standards.
Contact Information
For those seeking additional insight into Osisko Development, more information is available through its official website: www.osiskodev.com. If you have further inquiries, please feel free to reach out to our dedicated team members:
Leadership Contacts
Sean Roosen
Chairman and CEO
Email: sroosen@osiskodev.com
Tel: +1 (514) 940-0685
Philip Rabenok
Director, Investor Relations
Email: prabenok@osiskodev.com
Tel: +1 (437) 423-3644
Frequently Asked Questions
What is the purpose of the recent private placement by Osisko Development?
The private placement aims to raise capital for advancing their key mining projects and enhancing company growth.
How much capital did Osisko Development raise through this offering?
Osisko Development raised over $57 million gross proceeds from the recent oversubscribed offering.
What projects does Osisko Development focus on?
The company focuses on projects like the Cariboo Gold Project, Tintic Project, and San Antonio Gold Project, emphasizing sustainable mining practices.
Who can provide more information about Osisko Development?
For more details, individuals can contact Sean Roosen or Philip Rabenok via the provided email addresses and phone numbers.
What are the regulatory requirements for the offering to close?
The offering is subject to necessary approvals from the New York Stock Exchange and the TSX Venture Exchange before final closing.
