Osisko Development Corp. Announces Strategic Fundraising Move
Osisko Development Corp. Private Placement Details
Osisko Development Corp. is making strides in its capital growth initiatives by announcing a non-brokered private placement of units priced at USD $1.80. Each unit will comprise one common share and one purchase warrant, allowing the holder to buy an additional common share at USD $3.00 for a span of 60 months following the placement's closing.
Anticipated Closing Date and Conditions
The expected closing date for this offering is around late September. This significant step hinges on various conditions, notably the securing of necessary regulatory approvals from the New York Stock Exchange and the TSX Venture Exchange. The shares issued will comply with applicable holding periods dictated by Canadian securities laws, further enhancing investor confidence.
Utilization of Funds Raised
The proceeds from this private placement are earmarked to propel the Cariboo Gold Project and the Tintic Project, along with supporting general corporate purposes. This funding strategy aligns with Osisko Development's vision to expand its operations effectively and sustainably.
About Osisko Development Corp.
Osisko Development Corp. stands out in the North American gold sector, focusing on advancing past-producing mining locations that possess significant potential. The company’s ambitious aim is to evolve into an intermediate gold producer by honing in on its 100% owned Cariboo Gold Project, the historic Tintic Project, and the San Antonio Gold Project located in Mexico. Supported by existing infrastructure and a highly skilled workforce, Osisko Development is committed to constructing long-term, sustainable mining operations while minimizing risks associated with development.
Contact Information
If you're looking to learn more about our projects and initiatives, reach out directly via email:
Sean Roosen, Chairman and CEO
Email: sroosen@osiskodev.com
Tel: +1 (514) 940-0685
For investor relations, please contact:
Philip Rabenok, Director, Investor Relations
Email: prabenok@osiskodev.com
Tel: +1 (437) 423-3644
Frequently Asked Questions
What is the purpose of the private placement announced by Osisko Development?
The private placement aims to raise funds to advance the Cariboo Gold Project and the Tintic Project, as well as for general corporate purposes.
What does each unit in the private placement consist of?
Each unit consists of one common share and one purchase warrant. The warrant allows the holder to purchase an additional shares at a set price.
When is the expected closing date for the offering?
The expected closing date for the offering is on or around late September.
What approvals are needed for this offering to proceed?
The offering requires approvals from the New York Stock Exchange and the TSX Venture Exchange before it can proceed.
Who can I contact for more information about Osisko Development?
For more information, you can contact Sean Roosen at sroosen@osiskodev.com or Philip Rabenok at prabenok@osiskodev.com.
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