Total Upsized Offering of C$60 Million
MONTREAL, Oct. 09, 2025 (GLOBE NEWSWIRE) -- Osisko Development Corp. (NYSE:ODV, TSXV:ODV) ("Osisko Development" or the "Company") is pleased to announce that, as a result of excess demand, it has entered into an amending agreement with National Bank Financial Inc., BMO Capital Markets and RBC Capital Markets, acting as co-lead underwriters and co-bookrunners (collectively, the "Underwriters"), to increase the size of its previously announced "bought deal" financing to C$60 million (the "Amendment").
LIFE Offering
As a result of the Amendment, Osisko Development will now issue three tranches of shares pursuant to the LIFE Exemption (as defined herein) for aggregate gross proceeds of C$49,999,980 (the "LIFE Offering"), as follows:
National Flow-Through Shares: 2,990,000 common shares of the Company (the "FT Shares") that will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act") at a price of C$6.69 per FT Share for gross proceeds of C$20,003,100;
British Columbia Flow-Through Shares: 1,444,000 common shares of the Company to certain eligible British Columbia resident subscribers (the "BC FT Shares", and together with the FT Shares, the "Flow-Through Shares") that will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Tax Act at a price of C$6.93 per BC FT Share for gross proceeds of C$10,006,920; and
Common Shares: 4,182,000 common shares of the Company (the "Common Shares") at a price of C$4.78 per Common Share for gross proceeds of C$19,989,960.
Concurrent Private Placement
As a result of the Amendment, Osisko Development will also complete a concurrent "bought deal" private placement of 2,092,100 Common Shares at a price of C$4.78 per Common Share for gross proceeds of C$10,000,238 (the "Concurrent Private Placement").
The Company intends to use the net proceeds of the Common Shares issued pursuant to the LIFE Offering and Concurrent Private Placement, being approximately C$30 million, to contribute to the capital required to construct the Cariboo Gold Project and related pre-construction activities.
In all other respects, the terms of the LIFE Offering, including the use of proceeds of the Flow-Through Shares, will remain as previously disclosed in the original news release of the Company dated October 8, 2025 and entitled "Osisko Development Announces C$30 Million Bought Deal LIFE Offering of National and BC Flow-Through Shares" (the "Launch Release").
Closing of the LIFE Offering and the Concurrent Private Placement are expected to occur on the same date, being on or about October 29, 2025 (the "Closing Date"), and remain subject to certain conditions including, but not limited to, the receipt of all necessary ...
