The Prospector News

Osisko Development Closes Previously-Announced $51.8 Million Bought Deal Public Offering, Including Full Exercise of Over-Allotment Option

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Osisko Development Closes Previously-Announced $51.8 Million Bought Deal Public Offering, Including Full Exercise of Over-Allotment Option

 

 

 

 

 

Osisko Development Corp. (TSX-V: ODV) (NYSE: ODV) is pleased to announce the successful completion of its previously-announced bought deal public offering of an aggregate of 7,841,850 units of the Company at a price of $6.60 per Unit, for aggregate gross proceeds of approximately $51.8 million, including the full exercise of the over-allotment option.

 

Each Unit is comprised of one common share of the Company and one common share purchase warrant, with each Warrant entitling the holder thereof to purchase one additional Common Share at a price of $8.55 per Common Share for a period of 36 months following the date hereof, subject to adjustments.

 

The Offering was co-led by Eight Capital and National Bank Financial Inc., acting as co-lead underwriters and joint bookrunners, and on behalf of a syndicate of underwriters including BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Canaccord Genuity Corp., Haywood Securities Inc., and PI Financial Corp. The Underwriters were paid a cash commission equal to 5% of the gross proceeds of the Offering.

 

The Company intends to use the net proceeds of the Offering to advance the development of the Company’s material mineral projects, being the Tintic Project and the Cariboo Gold Project, and for general corporate purposes, as further described in the Prospectus (as defined below).

 

The Company filed a short form prospectus in each of the provinces of Canada pursuant to National Instrument 44-101 – Short Form Prospectus Distributions to qualify for distribution the Units offered pursuant to the Offering. Copies of the Prospectus and documents incorporated by reference therein are available electronically on SEDAR (www.sedar.com) under the Company’s issuer profile.

 

The Offering is subject to final acceptance of the TSX Venture Exchange.

 

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States or to, or for, the account or benefit of, U.S. Persons (as defined in Regulation S under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”)), or in any other jurisdiction. No securities may be offered or sold in the United States or in any other jurisdiction in which such offer or sale would be unlawful absent registration under the U.S. Securities Act of 1933, or an exemption therefrom or qualification under the securities laws of such other jurisdiction or an exemption therefrom.

 

About Osisko Development Corp.

 

Osisko Development Corp. is a premier North American gold development company focused on high-quality past-producing properties located in mining friendly jurisdictions with district scale potential. The Company’s objective is to become an intermediate gold producer by advancing its 100%-owned Cariboo Gold Project, located in central B.C., Canada, the Tintic Project in the historic East Tintic mining district in Utah, U.S.A., and the San Antonio Gold Project in Sonora, Mexico. In addition to considerable brownfield exploration potential of these properties, that benefit from significant historical mining data, existing infrastructure and access to skilled labour, the Company’s project pipeline is complemented by other prospective exploration properties. The Company’s strategy is to develop attractive, long-life, socially and environmentally sustainable mining assets, while minimizing exposure to development risk and growing mineral resources.

 

Posted March 2, 2023

Share this news article

MORE or "UNCATEGORIZED"


Bonterra Announces Closing of Upsized Brokered Private Placement for Proceeds of $10.5M

Bonterra Resources Inc. (TSX-V: BTR) (OTCQX: BONXF) (FSE: 9BR2) i... READ MORE

June 30, 2025

ESGold Expands Montauban Mine Building to 4,000 sq. ft. Ahead of Key Operational Milestones

Increased facility footprint reflects advanced construction progr... READ MORE

June 30, 2025

ARIS MINING COMPLETES INSTALLATION AND COMMISSIONING OF SECOND MILL AT SEGOVIA, ON TIME AND ON BUDGET

Aris Mining Corporation (TSX: ARIS) (NYSE-A: ARMN) announces the... READ MORE

June 30, 2025

Zodiac Gold Expands Arthington Discovery with Broad Gold Intercepts

Zodiac Gold Inc. (TSXV: ZAU)  a West-African gold exploration co... READ MORE

June 30, 2025

Appia Announces Final Closing of Its Non-Brokered Private Placement

Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQB: APAAF) (... READ MORE

June 30, 2025

Copyright 2025 The Prospector News