Osisko Development Corp. Announces Private Placement
Osisko Development Corp. is taking significant steps to enhance its capital growth by announcing a non-brokered private placement of units priced at USD $1.80. Each unit will consist of one common share and one purchase warrant, which grants the holder the right to buy an additional common share at USD $3.00 for a period of 60 months following the closing of the placement.
Expected Closing Date and Conditions
The anticipated closing date for this offering is expected to be in late September. This important milestone is contingent on several conditions, particularly the acquisition of necessary regulatory approvals from both the New York Stock Exchange and the TSX Venture Exchange. The shares issued will adhere to the applicable holding periods as stipulated by Canadian securities laws, which will further bolster investor confidence.
Allocation of Raised Funds
The funds generated from this private placement are designated to advance the Cariboo Gold Project and the Tintic Project, in addition to supporting general corporate activities. This funding approach aligns with Osisko Development's strategy to effectively and sustainably expand its operations.
About Osisko Development Corp.
Osisko Development Corp. is a prominent player in the North American gold sector, dedicated to advancing previously productive mining sites that hold substantial potential. The company aims to become an intermediate gold producer by focusing on its 100% owned Cariboo Gold Project, the historic Tintic Project, and the San Antonio Gold Project located in Mexico. With strong existing infrastructure and a skilled workforce, Osisko Development is committed to building sustainable mining operations while minimizing development risks.
Contact Information
If you would like to learn more about our projects and initiatives, please feel free to reach out via email:
Sean Roosen, Chairman and CEO
Email: sroosen@osiskodev.com
Tel: +1 (514) 940-0685
For inquiries related to 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 is designed to raise funds for advancing the Cariboo Gold Project and the Tintic Project, along with supporting general corporate purposes.
What does each unit in the private placement consist of?
Each unit includes one common share and one purchase warrant. The warrant provides the holder the option to purchase additional shares at a predetermined price.
When is the expected closing date for the offering?
The expected closing date for the offering is anticipated to be around late September.
What approvals are needed for this offering to proceed?
This offering requires approvals from the New York Stock Exchange and the TSX Venture Exchange before it can move forward.
Who can I contact for more information about Osisko Development?
For further information, you can reach out to Sean Roosen at sroosen@osiskodev.com or Philip Rabenok at prabenok@osiskodev.com.
