Osisko Gold Royalties Ltd (TSX:OR) (NYSE: OR) is pleased to announce that it has closed its previously announced bought deal public offering of 18,600,000 common shares of the Company at a price of US$13.45 per Common Share for total gross proceeds of US$250,170,000. The Company has also granted the underwriters an over-allotment option, exercisable in whole or in part in the sole discretion of the underwriters at any time up to 30 days from and including March 31, 2022, to purchase up to an additional 2,790,000 Common Shares, at the Offering Price, to cover over-allocations.

The Common Shares were sold pursuant to an underwriting agreement dated March 18, 2022, among the Company, Eight Capital and RBC Capital Markets, together with BMO Nesbitt Burns Inc., National Bank Financial Inc., Canaccord Genuity Corp., CIBC World Markets Inc., Scotia Capital Inc., Credit Suisse Securities (Canada), Inc., iA Private Wealth Inc., TD Securities Inc., Desjardins Securities Inc., Cormark Securities Inc., Haywood Securities Inc., Paradigm Capital Inc., Raymond James Ltd., Stifel Nicolaus Canada Inc., and PI Financial Corp.

Osisko plans to use the net proceeds from the Offering for general corporate purposes, including funding resource royalty and stream acquisitions, the potential repayment, from time to time, of amounts drawn under the Company’s revolving credit facility and other corporate development opportunities.

The Common Shares issued under the Offering were offered by way of a short form prospectus in all of the provinces of Canada and a registration statement on Form F-10 in the United States under the multi-jurisdictional disclosure system adopted by the United States and Canada. Copies of the final short form prospectus and documents incorporated therein are available electronically under Osisko’s issuer profile on SEDAR at www.sedar.com. A copy of the registration statement on Form F-10, including the documents incorporated by reference therein, can be found on EDGAR at www.sec.gov.

About Osisko Gold Royalties Ltd

Osisko is an intermediate precious metal royalty company focused on the Americas that commenced activities in June 2014. Osisko holds a North American focused portfolio of over 160 royalties, streams and precious metal offtakes. Osisko’s portfolio is anchored by its cornerstone asset, a 5% net smelter return royalty on the Canadian Malartic mine, which is the largest gold mine in Canada.