The Prospector News

Osisko Announces Closing of Overallotment Option in Connection With the Secondary Offering of Common Shares by Orion

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Osisko Announces Closing of Overallotment Option in Connection With the Secondary Offering of Common Shares by Orion

 

 

 

 

Osisko Gold Royalties Ltd (TSX:OR) (NYSE: OR) announces today that the syndicate of underwriters led by CIBC Capital Markets and BMO Capital Markets have purchased an additional 1,177,500 common shares of Osisko held by Betelgeuse LLC (“Orion“), a jointly owned subsidiary of certain investment funds managed by Orion Resource Partners, following the exercise in full of their option to purchase additional shares. The Over-Allotment Option was granted to the Underwriters in connection with Osisko’s previously announced secondary offering of 7,850,000 Common Shares, which closed on July 11, 2019.

 

Under the terms of the Secondary Offering, Orion had granted the Underwriters the Over-Allotment Option, exercisable at any time up to 30 days from and including the date of closing of the Secondary Offering, to purchase up to 1,177,500 Option Shares at a price of $14.10 per Option Share for gross proceeds of $16,602,750. Osisko did not receive any of the proceeds of the Secondary Offering or from the exercise of the Over-Allotment Option.

 

Upon closing of the Over-Allotment Option, Orion’s ownership of Osisko’s issued and outstanding common shares has now been reduced to 6.2%. Orion has agreed with the Underwriters that its remaining common shares will be subject to a 180 day lock-up period, subject to customary exceptions.

 

About Osisko Gold Royalties Ltd

 

Osisko Gold Royalties Ltd is an intermediate precious metal royalty company that holds a North American focused portfolio of over 135 royalties, streams and precious metal offtakes. Osisko’s portfolio is anchored by its 5% NSR royalty on the Canadian Malartic Mine, which is the largest gold mine in Canada. Osisko also owns a portfolio of publicly held resource companies, including a 32.7% interest in Barkerville Gold Mines Ltd., a 16.6% interest in Osisko Mining Inc. and a 19.9% interest in Falco Resources Ltd.

 

Posted July 18, 2019

Share this news article

MORE or "UNCATEGORIZED"


Canada Carbon Receives Full Assay Results on its Asbury Property, Including 12.25%Cg over 22.50 Metres

Canada Carbon Inc. (TSX-V:CCB) (FF:U7N1) is pleased to announce i... READ MORE

March 18, 2024

enCore Energy Encounters Highest Grade Drill Results at Alta Mesa Uranium Project; Provides Status on South Texas Production Operations

enCore Energy Corp. (NASDAQ: EU) (TSX-V: EU) a domestic uranium ... READ MORE

March 18, 2024

Canada Nickel Makes New Discovery at Newmarket Property, Achieves Best Drill Results at Reid to Date and Announces Grant of Options and RSUs

Highlights First two holes at Newmarket successfully intersect ta... READ MORE

March 18, 2024

Imperial Reports 2023 Financial Results

Imperial Metals Corporation (TSX:III) reports financial results f... READ MORE

March 15, 2024

Outcrop Silver Announces Closing $3.45 Million Public Offering, Including the Full Exercise of the Over-Allotment Option

Outcrop Silver & Gold Corporation (TSX-V: OCG) (OTCQX: OCGSF)... READ MORE

March 14, 2024

Copyright 2024 The Prospector News