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Osisko Closes Private Placements with CDPQ and the Fonds for Proceeds of $42 Million

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Osisko Closes Private Placements with CDPQ and the Fonds for Proceeds of $42 Million

 

 

 

 

 

Osisko Gold Royalties Ltd (TSX:OR) is pleased to announce that it has closed the private placements announced on November 17, 2014 whereby Osisko issued a total of 2,794,411 common shares to la Caisse de depot et placement du Quebec and le Fonds de solidarite FTQ  at a price of C$15.03 per share for total gross proceeds of approximately C$42 million. In addition to their existing shareholdings, this share purchase increases CDPQ’s ownership in Osisko to 6.9% and the Fonds’ ownership in Osisko to 1.9%.
 

About Osisko Gold Royalties Ltd

 

Osisko is a gold-focused royalty and stream company whose cornerstone asset is a 5% Net Smelter Royalty royalty on the world-class Canadian Malartic gold mine, located in Malartic, Quebec. The Company also holds a 2% NSR royalty on the Upper Beaver, Kirkland Lake and Hammond Reef gold exploration projects in Northern Ontario. The Corporation has over $180 million in cash resources, no debt and a portfolio of investments in emerging exploration companies. As announced on November 17, 2014, Osisko and Virginia have entered into a definitive agreement to combine the two companies to create a new leading intermediate royalty company with two world-class gold royalty assets in Quebec.

Posted November 27, 2014

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