Osisko Gold Royalties Ltd  (TSX:OR) (NYSE:OR) is pleased to announce that it has amended its revolving credit facility, increasing the amount from $350 million to $400 million, with an additional uncommitted accordion of up to $100 million, for a total availability of up to $500 million. The term of the Facility has been extended by one year to November 14, 2023. The Facility is to be used for general corporate purposes and investments in the mineral industry, including the acquisition of royalties, streams and other interests.

The lending syndicate is comprised of National Bank of Canada, Bank of Montreal, The Bank of Nova Scotia, Export Development Canada, Canadian Imperial Bank of Commerce, Royal Bank of Canada, The Toronto-Dominion Bank and Fédération des Caisses Desjardins du Québec. National Bank of Canada continues to act as administrative agent and National Bank Financial Markets acted as Sole Lead Arranger and Bookrunner.

Sean Roosen, Chair and Chief Executive Officer of Osisko, noted: “We welcome Fédération des Caisses Desjardins du Québec to our strong group of financial partners. This $500 million Facility will provide Osisko with strong liquidity to pursue its strategic plan of gaining exposure to high quality cash flow opportunities that complement its current high cash margin¹portfolio of royalties and streams.”

In 2018, Osisko generated $82.2 million in operating cash flow at 89.5% cash margin and $46.1 million at 89.5% cash margin in the first 6 months of 2019.

¹ Cash margin is a non-IFRS financial performance measure which has no standard definition under IFRS. It is calculated by deducting the cost of sales from the revenues. The calculation of cash margins excludes offtakes.

About Osisko Gold Royalties Ltd

Osisko Gold Royalties Ltd is an intermediate precious metal royalty company that holds a North American focused portfolio of over 135 royalties, streams and precious metal offtakes. Osisko’s portfolio is anchored by its 5% NSR royalty on the Canadian Malartic Mine, which is the largest gold mine in Canada. Osisko also owns a portfolio of publicly held resource companies, including a 32.6% interest in Barkerville Gold Mines Ltd., a 19.9% interest in Falco Resources Ltd and a 16.4% interest in Osisko Mining Inc.