MONTREAL, Oct. 29, 2025 (GLOBE NEWSWIRE) -- Osisko Development Corp. (NYSE:ODV, TSXV:ODV) ("Osisko Development" or the "Company") is pleased to announce the successful closing of its previously-announced oversubscribed private placement offering of 15,409,798 common shares of the Company (the "Common Shares") for aggregate gross proceeds of approximately C$82.5 million (the "Offering").
The Offering is comprised of the following issuances, on a private placement basis:
LIFE Offering: issuances made pursuant to the "listed issuer financing exemption" available under Part 5A of National Instrument 45-106, Prospectus Exemptions ("NI 45-106"), as amended by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "LIFE Exemption") in each of the provinces and territories of Canada, in three tranches:
National Flow-Through Shares: 2,990,000 Common Shares that will qualify as "flow-through shares" ("FT 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 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 at a price of C$4.78 per Common Share for gross proceeds of C$19,989,960.
Concurrent Private Placement: 6,793,798 Common Shares at a price of C$4.78 per Common Share for gross proceeds of C$32,474,354 pursuant to exemptions available under NI 45-106, other than the LIFE Exemption (the "Concurrent Private Placement").
The Offering was co-led by National Bank Financial Inc., BMO Capital Markets and RBC Capital Markets (collectively, the "Underwriters"), as co-lead underwriters and co-bookrunners.
The Company will use an amount equal to the aggregate gross proceeds from the sale of the Flow-Through Shares under the Offering to incur eligible "Canadian exploration expenses" that will qualify as (i) "flow-through mining expenditures" within the meaning of the Tax Act, and (ii) in respect of the BC FT Shares purchased by eligible British Columbia purchasers, "BC flow-through mining expenditures" that meet the criteria set forth in subsection 4.721(1) of the Income Tax Act (British Columbia), in respect of the exploration activities on the Company's properties in British Columbia (the "Qualifying Expenditures"). The Qualifying Expenditures will be incurred on or before December 31, 2026 and will be renounced by the Company to the initial purchasers of the Flow-Through Shares with an effective date no later than December 31, 2025.
The Company intends to use the net proceeds of the Common Shares issued pursuant ...
