Osisko Development Increases Size of Latest Financing Offering

Osisko Development Expands Financing Offering

Osisko Development Corp. (NYSE: ODV, TSXV: ODV) is excited to share that it has responded to overwhelming demand by amending its initial "bought deal" financing arrangement. The company will be raising its total from C$60 million to C$75 million due to this increased interest from investors. This enhancement showcases confidence in the company's projects and financial strategies.

Details of the Offering

According to the latest announcements by Osisko Development, the financing will consist of multiple tranches under the special listed issuer financing exemption. This umbrella covers the issuance of national flow-through shares, British Columbia flow-through shares, and common shares, collectively expected to generate about C$50 million. Furthermore, an additional private placement is anticipated, yielding roughly C$10 million.

Concurrent Private Placement Adjustments

With the new amendment, Osisko has raised the size of the Concurrent Private Placement by C$15 million, resulting in a projected total of 5,230,200 common shares priced at C$4.78 each. This development emphasizes the company's adaptability to market conditions and ensures it works towards maximizing shareholder value.

Timeline for Completion

The company aims to conclude both the LIFE Offering and the Concurrent Private Placement around the end of October. However, this timeline is contingent on certain regulatory approvals, including those from the TSX Venture Exchange and the New York Stock Exchange. It's essential that these approvals materialize for the financing to proceed smoothly.

Osisko Development's Growth Strategy

Osisko Development operates within an industry known for its challenges, yet it is firmly focused on transforming into a well-established gold producer. The company is actively advancing its prime asset, the Cariboo Gold Project, which promises significant potential due to its strategic location and permitted status. Furthermore, the company’s portfolio includes other exciting projects like the Tintic Project in Utah and the San Antonio Gold Project in Mexico, indicating a diverse operational strategy that mitigates risks associated with single-project dependence.

About Osisko Development Corp.

Osisko Development is positioned in the heart of North America's gold-producing regions, striving toward sustainable and responsible mining practices. Building on a legacy of excellence, the company is dedicated to long-term mineral resource growth while minimizing environmental impact. The drive to cultivate relationships with local stakeholders underpins their operations, ensuring a balanced approach to natural resource development.

Contact Information

If you're interested in learning more about Osisko Development, feel free to 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 main focus of Osisko Development Corp.?

Osisko Development Corp. concentrates on developing projects in mining-friendly regions, aiming to become a major gold producer.

How much is Osisko Development Corp. increasing its financing offer?

The financing offer has increased from C$60 million to C$75 million due to high investor demand.

What significant projects are part of Osisko Development’s portfolio?

Key projects include the Cariboo Gold Project, Tintic Project, and San Antonio Gold Project.

What are the expected proceeds from the Common Shares private placement?

The private placement is expected to generate approximately C$25 million from the sale of 5,230,200 common shares.

When are the financing offerings expected to close?

The LIFE Offering and Concurrent Private Placement are expected to close around the end of October, subject to regulatory approvals.

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