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"


Silver Storm Extends San Marcos Mine 100 M at Depth With High-grade Drill Results

Silver Storm Mining Ltd. (TSX-V: SVRS) (OTCQB: SVRSF) (FSE: SVR),... READ MORE

June 24, 2024

Victoria Gold: Sale of Clear Creek Property

Victoria Gold Corp. (TSX-VGCX) announces that is has executed a d... READ MORE

June 24, 2024

Graphite One Announces Revised Contract with the U.S. Department of Defense to Increase Share of Expenditures from 50% to 75% for the Feasibility Study

Graphite One Inc. (TSX‐V:GPH) (OTCQX:GPHOF) is pleased to annou... READ MORE

June 24, 2024

Maple Gold Announces Closing of C$4.05 Million Flow-Through Private Placement

Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) is pl... READ MORE

June 24, 2024

Premier American Uranium and American Future Fuel Announce Updated Mineral Resource Estimate for the Cebolleta Project, Setting the Stage for Planned Expansion Drilling

Premier American Uranium Inc. (TSX-V: PUR) (OTCQB: PAUIF) and Ame... READ MORE

June 24, 2024

Copyright 2024 The Prospector News