Osisko Development Secures C$30 Million in Flow-Through Offering
Osisko Development Corp. Raises C$30 Million
Osisko Development Corp. (NYSE: ODV, TSXV: ODV) is excited to announce a significant capital raise through a bought deal offering. The company has entered an agreement with prominent underwriters to sell flow-through shares, generating approximately C$30 million to enhance its exploration initiatives.
Details of the Offering
The offering consists of two tranches of flow-through shares, specifically designed to attract investments for exploration activities. The first tranche includes 2,990,000 National Flow-Through Shares which qualify under the Income Tax Act, generating C$20,003,100 at a price of C$6.69 per share. The second tranche offers 1,444,000 British Columbia Flow-Through Shares aimed at eligible provincial subscribers at a price of C$6.93 per share, contributing C$10,006,920.
Use of Proceeds
The funds accrued from the offering will be employed to cover eligible Canadian exploration expenses, as defined by the Income Tax Act. These funds will also support specific BC flow-through mining expenditures related to exploration projects within British Columbia, thereby reinforcing Osisko Development's commitment to maximizing shareholder value through strategic exploration.
expected Timeline and Regulatory Approval
The closing date for this offering is anticipated around the end of October 2025, contingent upon securing necessary regulatory clearances. The management anticipates a smooth process given the company's adherence to compliance requirements and transparency in operations.
Future of Osisko Development
Osisko Development is steadfastly focused on evolving into an intermediate gold producer. The company focuses on restoring past-producing mining camps located in North America, distinguished for their rich resources and potential for sustainable development. They hold the fully permitted Cariboo Gold Project in British Columbia, along with supplementary assets such as the Tintic Project in Utah and the San Antonio Gold Project in Mexico, all of which possess significant exploration and production potential.
Commitment to Responsible Mining Practices
As an emerging leader in the mining sector, Osisko Development is dedicated to socially responsible mining practices. They aim to create long-term value while being proactive in their environmental management and community engagement efforts. Their operational strategies highlight the importance of responsible extraction and development, setting a benchmark for practices in the industry.
About Osisko Development Corp.
Osisko Development Corp. centers its operations on gold development within conducive mining jurisdictions. With a target to become a notable player in the gold production sphere, the company works diligently on enhancing its project portfolio while minimizing developmental risks. The company's strategic focus emphasizes creating long-lasting mining operations that are both environmentally sustainable and beneficial for local communities.
Contact Information
For additional details, please 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 purpose of the flow-through share offering?
The offering aims to raise funds for exploration and mining expenditures, primarily in British Columbia.
How much money does Osisko Development aim to raise?
Osisko Development aims to secure approximately C$30 million through this offering.
Who are the underwriters for this offering?
The offering is underwritten by National Bank Financial, BMO Capital Markets, and RBC Capital Markets.
What projects will the raised funds be used for?
The funds will be directed towards exploration activities in the company's properties, particularly within British Columbia.
When is the expected closing date for the offering?
The offering is expected to close on or about October 29, 2025, subject to regulatory approvals.
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