Osisko Development Announces C$30 Million Flow-Through Offering
Osisko Development Corp. (NYSE: ODV, TSX-V: ODV) is thrilled to share that it has entered into a substantial agreement with National Bank Financial Inc., BMO Capital Markets, and RBC Capital Markets. These leading financial institutions will act as co-lead underwriters for a Canadian flow-through share offering expected to raise C$30,010,020. This initiative marks an essential step towards advancing their strategic gold exploration projects.
Details of the Offering
The offering consists of two tranches of flow-through shares. The first tranche includes 2,990,000 National flow-through shares priced at C$6.69 each, aimed primarily at Canadian investors. The second tranche features 1,444,000 British Columbia flow-through shares at a price of C$6.93 each, specifically targeting eligible British Columbia subscribers. Together, these shares are projected to facilitate significant Canadian exploration expenditures, which are crucial for the development of the Company’s mining properties.
Purpose of Proceeds
Osisko Development plans to use the entire gross proceeds from this offering to cover Canadian exploration expenses related to their mining activities. This includes complying with the Tax Act, ensuring that the funds are directed towards developments that qualify as flow-through mining expenditures. The company is committed to advancing exploration initiatives, particularly in British Columbia, with strict adherence to regulatory guidelines.
Closing Timeline and Conditions
The tentative closing date for this offering is scheduled for October 29, 2025. However, this date is conditional upon fulfilling various requirements, including obtaining all necessary regulatory approvals. These steps are vital to ensure the smooth execution of the offering, allowing both the Company and its investors to benefit from this financial boost.
Investor Considerations and Strategy
The offering is conducted under the listed issuer financing exemption, a comfortable framework that allows streamlined access to funding while ensuring compliance with applicable Canadian securities laws. Moreover, Osisko Development has expressed intentions that some purchasers may donate or resell their flow-through shares, demonstrating a strong community orientation and a commitment to supporting local initiatives.
About Osisko Development Corp.
Osisko Development Corp. is a North American gold development company focused on developing past-producing mining districts known for their strong potential. The Company is on a mission to position itself as an intermediate gold producer, specifically through its flagship Cariboo Gold Project in central British Columbia. Furthermore, they are advancing other significant projects, including the Tintic Project in Utah and the San Antonio Gold Project in Mexico, each with rich historical mining data and established infrastructure.
Investor Contacts
For additional information about Osisko Development, prospective investors can 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 main purpose of the C$30 million offering?
The proceeds will be used for Canadian exploration expenses related to flow-through mining expenditures, supporting mining activities in various jurisdictions.
Which financial institutions are involved in the offering?
National Bank Financial Inc., BMO Capital Markets, and RBC Capital Markets are acting as co-lead underwriters for the offering.
When is the expected closing date for the offering?
The offering is expected to close on or about October 29, 2025, contingent upon regulatory approvals.
What projects will benefit from this offering?
The offering will primarily support the Cariboo Gold Project and other exploration activities across the company's properties.
How can investors learn more about Osisko Development?
Investors can visit the Company's website at www.osiskodev.com for more information.
