Osisko Development Expands Financing to Support Gold Project Growth
Osisko Development Upsizes Financing with Increased Demand
Osisko Development Corp. (NYSE: ODV, TSXV: ODV) is thrilled to share that due to overwhelming interest, they have amended an agreement with underwriters to boost their previously declared financing to C$60 million. This development marks a significant milestone in their strategy to further advance the Cariboo Gold Project.
Details of the LIFE Offering
The recent adjustment means that Osisko Development will issue three distinct tranches of shares under the LIFE Exemption, resulting in total gross proceeds amounting to C$49,999,980 through the LIFE Offering.
Tranches Breakdown
The three tranches are as follows:
- National Flow-Through Shares: Issuing 2,990,000 common shares priced at C$6.69 each, generating gross proceeds of approximately C$20,003,100.
- British Columbia Flow-Through Shares: Issuing 1,444,000 common shares for eligible residents at a price of C$6.93 each, amounting to gross proceeds of C$10,006,920.
- Common Shares: Issuing 4,182,000 common shares at C$4.78 each, generating approximately C$19,989,960.
Concurrent Private Placement Fundraising
Along with the LIFE Offering, Osisko Development will conduct a concurrent private placement of 2,092,100 Common Shares, priced at C$4.78 each, expected to raise around C$10,000,238. This strategic dual approach aims to enhance capital for the Cariboo Gold Project construction and related pre-construction undertakings.
Strategic Use of Raised Capital
The funds gathered from both the LIFE Offering and the Concurrent Private Placement will serve a pivotal role in meeting the capital requirements for the Cariboo Gold Project. With an anticipated net sum of approximately C$30 million, Osisko Development is well-positioned to foster significant advancements in project development.
Regulatory Approval and Closing Timeline
Both the LIFE Offering and the Concurrent Private Placement are set to close around October 29, 2025, pending required regulatory approvals from the TSX Venture Exchange and the New York Stock Exchange. It's essential to note that the completion must occur no later than 45 days after the initial announcement.
About Osisko Development Corp.
Osisko Development Corp. emphasizes its commitment to lead within North America’s gold sector, focusing on past mining camps ripe for development. Its flagship operation, the Cariboo Gold Project, intends to establish the company as a key player in gold production.
In addition to the Cariboo Gold Project, Osisko Development has other promising projects, including the Tintic Project in Utah and the San Antonio Gold Project in Mexico. Each of these endeavors holds vast exploration potential and access to skilled labor, positioning Osisko Development favorably within the mining sector.
Contact Information
For more information, please visit www.osiskodev.com or reach out directly:
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 the increased financing?
The increased financing aims to secure additional capital for the Cariboo Gold Project and its construction activities.
How much will the LIFE Offering raise?
The LIFE Offering is projected to raise around C$49,999,980 through various share tranches.
When is the expected closing date for these offerings?
The anticipated closing date for both the LIFE Offering and the Concurrent Private Placement is on or around October 29, 2025.
What are flow-through shares?
Flow-through shares allow investors to finance exploration expenses, providing certain tax benefits under Canadian tax laws.
Who should be contacted for further information?
Interested parties can contact Sean Roosen or Philip Rabenok via the provided emails for more details on the offerings.
About The Author
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