The Prospector News

Osisko Gold Royalties Announces Sale of Common Shares of Osisko Mining for Gross Proceeds of C$132 Million

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Osisko Gold Royalties Announces Sale of Common Shares of Osisko Mining for Gross Proceeds of C$132 Million

 

 

 

 

 

Osisko Gold Royalties Ltd. (TSX:OR) (NYSE:OR) announced that it has sold 50,023,569 common shares of Osisko Mining Inc. (OSK: TSX) pursuant to a bought block trade with National Bank Financial and BMO Capital Markets for aggregate gross proceeds of approximately C$132,000,000.

 

Following the transaction the Corporation no longer holds any common shares of Osisko Mining. The Corporation continues to hold its 2.0 to 3.0% NSR royalty on the Windfall Gold Project and the surrounding property, held by a 50/50 joint-venture partnership between Osisko Mining and Gold Fields Limited.

 

Paul Martin, interim Chief Executive Officer of Osisko commented: “The sale of our equity position in Osisko Mining serves two important purposes. Firstly, it reaffirms Osisko’s commitment to aligning ourselves as a pure-play precious metals royalty and streaming company. Secondly, it bolsters our financial position by injecting immediate cash resources, therefore restoring our balance sheet to a strong position. We remain extremely enthusiastic about our ongoing partnership with both Osisko Mining and Gold Fields at Windfall; a fully-funded, high-grade gold project, situated in the province of Québec, one of the world’s best mining jurisdictions. Osisko maintains its exposure to Windfall through its 2.0 to 3.0% NSR royalty on the project, and the surrounding property.”

 

Early Warning Disclosure

 

Immediately prior to the transaction, Osisko owned 50,023,569 common shares of Osisko Mining, representing approximately 13.3% of the issued and outstanding common shares of Osisko Mining on a non-diluted basis. Osisko disposed of the common shares in the ordinary course of business. Osisko held its common shares for investment purposes and, following the transaction, Osisko no longer holds any common shares of Osisko Mining. Osisko disposed of the common shares at a price per share equal to C$2.63, net of any applicable commissions.

 

Osisko will file an early warning report under National Instrument 62-103 in connection with the transaction. A copy of the early warning report to be filed by the Corporation will be available under Osisko Mining’s profile on SEDAR+ at www.sedarplus.ca or may be obtained by contacting Frédéric Ruel, Chief Financial Officer and Vice President, Finance at (514) 940-0670.

 

The Corporation’s head office is located at 1100 Avenue des Canadiens-de-Montréal, Suite 300, Montréal, Québec, H3B 2S2. Osisko Mining’s head office is located at Suite 1440 – 155 University Avenue, Toronto, Ontario, Canada M5H 3B7.

 

About Osisko Gold Royalties Ltd

 

Osisko Gold Royalties Ltd is an intermediate precious metal royalty company which holds a North American focused portfolio of over 180 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, one of Canada’s largest gold mines.

 

Posted December 14, 2023

Share this news article

MORE or "UNCATEGORIZED"


North Bay Resources Announces Assays up to 5.69% Copper, 1 Opt. Silver, and 0.22% Vanadium at Copper Island Project, British Columbia

North Bay Resources, Inc. ( (OTC: NBRI) is pleased to announce re... READ MORE

March 10, 2025

McEwen Mining Inc. Completes $10,000,000 Strategic Investment In Goliath Resources Limited At $1.93 Per Unit

Further to its press releases dated January 29, 2025 and February... READ MORE

March 10, 2025

Franco-Nevada Reports Q4 and Year-end 2024 Results

Strong Fourth Quarter Performance “Our portfolio del... READ MORE

March 10, 2025

G2 Goldfields Significantly Increases Gold Resources at the Oko Project, Guyana

G2 Goldfields Inc.  (TSX: GTWO) (OTCQX: GUYGF) is pleased to ann... READ MORE

March 10, 2025

Jeff Christian - "Silver Crisis 'Update' And The True Value Of Gold- Market Update" (Video)

In this presentation, Jeffrey Christian of CPM Group looks at some myths that continue to gai... READ MORE

March 7, 2025

Copyright 2025 The Prospector News