Osisko Development Announces US$50 Million Marketed Private Placement Of Units
23 Octobre 2024 - 10:48PM
Osisko Development Corp. (NYSE: ODV, TSXV: ODV)
("
Osisko Development" or the
"
Company") is pleased to announce that it has
entered into an agreement with National Bank Financial Inc., Cantor
Fitzgerald Canada Corp. and Eight Capital as co-lead agents
(collectively, the "
Lead Agents"), pursuant to
which the Lead Agents have agreed to sell, on a "best efforts"
agency basis, up to 27,778,000 units ("
Units") of
the Company at a price of US$1.80 per Unit (the "
Offering
Price") for aggregate gross proceeds of up to
approximately US$50 million (the "
Offering").
Each Unit consists of one common share of the
Company (each, a "Common Share") and one Common
Share purchase warrant (each, a "Warrant"). Each
Warrant shall entitle the holder thereof to purchase one Common
Share (each, a "Warrant Share"), at a price of
US$3.00 per Warrant Share on or prior to October 1, 2029.
The Company has also granted the Lead Agents an
option, exercisable in whole or in part, at any time up to 48 hours
prior to the closing of the Offering, to sell an additional up to
4,166,700 Units at the Offering Price.
The Company intends to use the net proceeds of
the Offering towards the advancement of its Cariboo and Tintic
Projects, to partially repay its existing credit facility and for
general corporate purposes.
Closing of the Offering is expected to take
place on or about November 12, 2024 (the "Closing
Date"), and is subject to certain conditions including,
but not limited to, the receipt of all necessary approvals,
including the conditional approval from the New York Stock Exchange
and the TSX Venture Exchange. All securities issued under the
Offering will be subject to a hold period expiring four months and
one day from the Closing Date.
The Units are to be offered for sale by way of
private placement in all the provinces and territories of Canada
(the "Jurisdictions"), pursuant to applicable
prospectus exemptions under National Instrument 45-106 – Prospectus
Exemptions. The Lead Agents will also be entitled to offer the
Units for sale to eligible purchasers resident in jurisdictions
other than Canada that are mutually agreed to by the Company and
the Lead Agents, each acting reasonably, provided that no
prospectus filing or comparable obligation arises and the Company
does not thereafter become subject to continuous disclosure
obligations in such jurisdictions.
The securities have not been registered under
the United States Securities Act of 1933, as amended (the
"U.S. Securities Act"), or any U.S. state
securities laws, and may not be offered or sold to, or for the
account or benefit of, persons in the "United States" or "U.S.
persons" (as such terms are defined in Regulation S under the U.S.
Securities Act) absent registration under the U.S. Securities Act
and all applicable U.S. state securities laws or compliance with an
exemption from such registration requirements. This news release is
not an offer to sell or the solicitation of an offer to buy the
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to qualification or registration under
the securities laws of such jurisdiction.
ABOUT OSISKO
DEVELOPMENT CORP.
Osisko Development Corp. is a North American
gold development company focused on past-producing mining camps
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.
For further information, visit our website at
www.osiskodev.com or contact:
Sean Roosen |
Philip Rabenok |
Chairman and CEO |
Director, Investor Relations |
Email: sroosen@osiskodev.com |
Email: prabenok@osiskodev.com |
Tel: +1 (514) 940-0685 |
Tel: +1 (437) 423-3644 |
|
|
CAUTION REGARDING FORWARD LOOKING
STATEMENTS
This news release contains "forward-looking
information" (within the meaning of applicable Canadian securities
laws) and "forward- looking statements" (within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995). Such
statements or information are identified with words such as
"anticipate", "believe", "expect", "plan", "intend", "potential",
"estimate", "propose", "project", "outlook", "foresee" or similar
words suggesting future outcomes or statements regarding any
potential outcome. Such statements in this news release may
include, without limitation, statements pertaining to: the size of
the Offering, the use of the net proceeds from the Offering, the
closing of the Offering and the ability to obtain the necessary
regulatory authority approvals. Such forward-looking information or
statements are based on a number of risks, uncertainties and
assumptions which may cause actual results or other expectations to
differ materially from those anticipated and which may prove to be
incorrect. Actual results could differ materially due to a number
of factors, including, without limitation, marketing of the
Offering, and satisfying the condition of closing of the Offering,
including the requirements of the New York Stock Exchange and the
TSX Venture Exchange (if at all). Although the Company believes
that the expectations reflected in the forward-looking information
or statements are reasonable, prospective investors in the Company
securities should not place undue reliance on forward-looking
statements because the Company can provide no assurance that such
expectations will prove to be correct. Forward-looking information
and statements contained in this news release are as of the date of
this news release and the Company assumes no obligation to update
or revise this forward-looking information and statements except as
required by law.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release. No stock exchange,
securities commission or other regulatory authority has approved or
disapproved the information contained herein.
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