Osisko Gold Royalties Announces Exciting Name Change
MONTREAL — Osisko Gold Royalties Ltd (the "Corporation" or "Osisko") has recently achieved a milestone by completing its name change to "OR Royalties Inc." and "Redevances OR Inc." in French, a decision that received the green light from shareholders at the annual and special meeting held today.
Trading Under a New Banner
With the new identity, the Corporation's common shares are set to start trading under the name "OR Royalties Inc." on the New York Stock Exchange and the Toronto Stock Exchange. The transition will officially commence at the opening of the market on a specified date. As part of this change, attendees were informed that the new CUSIP number for the corporation’s common shares will take effect, while the ticker symbol "OR" will remain the same on both exchanges.
Director Elections Unanimously Approved
During the meeting, shareholders also elected all eight nominees listed in the management information circular. Totaling 155,758,846 common shares present or represented at the meeting marked a significant turnout, accounting for 83.29% of the total shares eligible to vote, affirming the strong support from the ownership base.
Profiles of Elected Directors
The elected directors include key individuals such as Jason Attew, Edie Hofmeister, W. Murray John, and others, all of whom will serve until the next annual shareholders’ meeting. Their election demonstrates shareholders' confidence in the leadership guiding the Corporation.
Appointment of Auditors
Following the voting, PricewaterhouseCoopers, LLP, Chartered Professional Accountants, were appointed as the independent auditors for the incoming fiscal year. Shareholders authorized the board of directors to determine the auditor's remuneration. This reflects the trust the shareholders have in the accountability and transparency of the Corporation’s financials.
Deferred Share Unit Plan Approved
The meeting further provided shareholders an opportunity to vote on the unallocated rights and entitlements under the Deferred Share Unit Plan. The results reflected a substantial majority in favor, highlighting the strong support for the Corporation’s long-term incentive plans aimed at aligning management's interests with those of shareholders.
Special Resolution for Name Change
A significant vote was also cast on the amendment to the Articles of the Corporation to change the name to "OR Royalties Inc. / Redevances OR Inc." This strategic move is seen as a way to better align the Corporation's branding with its vision and operational objectives, which was overwhelmingly supported by the shareholders.
Focus on Executive Compensation
In addition to the name change and director elections, an advisory resolution concerning executive compensation was also presented. It showed substantial majority approval, signaling a favorable view of how the Corporation compensates its leadership, which plays a crucial role in achieving its goals.
Osisko's Market Position
Osisko Gold Royalties Ltd is recognized as an intermediate precious metal royalty company with a robust portfolio that encompasses over 195 royalties, streams, and precious metal offtakes, along with 21 producing assets. At the heart of Osisko's operations is a 3-5% net smelter return royalty on the Canadian Malartic Complex, acknowledged as one of Canada's largest gold mining assets.
Company Contact Information
Osisko maintains its headquarters at 1100 Avenue des Canadiens-de-Montréal, Suite 300, Montréal, Québec, H3B 2S2. For further inquiries, interested parties can reach out to the Corporation's Vice President of Capital Markets, Grant Moenting, or Vice President of Sustainability and Communications, Heather Taylor, via the provided contact details.
Frequently Asked Questions
What is Osisko Gold Royalties Ltd's new name?
The company has changed its name to "OR Royalties Inc." and "Redevances OR Inc." in French.
When will the new name be reflected in the stock market?
The common shares will begin trading under the new name on the New York Stock Exchange and the Toronto Stock Exchange shortly after the annual meeting.
How many directors were elected at the meeting?
Eight directors were elected during the annual and special meeting of shareholders.
What firm was appointed as auditors?
PricewaterhouseCoopers, LLP was appointed as the independent auditor for the upcoming year.
Where is the head office of Osisko Gold Royalties located?
The head office is located at 1100 Avenue des Canadiens-de-Montréal, Suite 300, Montréal, Québec, H3B 2S2.
