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Osisko Has Repurchased 1.3 Million Shares Through its NCIB Program for C$18.5 Million

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Osisko Has Repurchased 1.3 Million Shares Through its NCIB Program for C$18.5 Million

 

 

 

 

 

Osisko Gold Royalties Ltd (TSX:OR) (NYSE:OR) provides an update on its previously announced normal course issuer bid.

 

During the period January 1, 2021 to August 31, 2021, Osisko repurchased 1,267,666 common shares at a cost of C$18.5 million. In the month of August alone, Osisko repurchased 920,266 common shares at a cost of C$14.1 million. Under the terms of the NCIB Program, Osisko may acquire, from time to time, up to 14,610,718 of its common shares in accordance with the normal course issuer bid procedures of the TSX until December 11, 2021.

 

Sandeep Singh, President and CEO of Osisko commented: “Osisko’s management and Board of Directors believe that the intrinsic value of the Company is not properly reflected in the market price of our common shares, prompting us to get more active with share repurchases. Through the NCIB Program and our dividend, Osisko has returned over $35 million to shareholders thus far in 2021, consistent with our objective to prioritize capital returns to shareholders in a disciplined manner.”

 

Additional share repurchases will be determined based on future market conditions and share price movements alongside other capital allocation decisions, including pursuing growth acquisition opportunities. The Company has no obligation to repurchase any shares under the NCIB Program and may suspend or discontinue it at any time without prior notice.

 

About Osisko Gold Royalties Ltd

 

Osisko Gold Royalties Ltd 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 150 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.

 

Posted September 7, 2021

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