Osisko Development Announces Upsizing of Previously Announced "Bought Deal" LIFE Offering; Additional Concurrent Private Placement

Executive Summary

• Osisko Development Corp. upsized its previously announced bought‑deal financing to a total of C$60 million due to excess demand.
• The amendment adds three tranches of flow‑through and common shares for gross proceeds of C$49,999,980 (LIFE Offering) plus a concurrent private placement of 2,092,100 common shares for C$10,000,238.
• Approximately C$30 million of net proceeds will be allocated to fund construction and pre‑construction activities at the Cariboo Gold Project.

Key Details

• Amended Offering Size: Total gross proceeds increased to C$60 million.
• LIFE Offering Tranches:
• National Flow‑Through Shares – 2,990,000 shares @ C$6.69 each → C$20,003,100 gross.
• British Columbia Flow‑Through Shares – 1,444,000 shares @ C$6.93 each → C$10,006,920 gross.
• Common Shares – 4,182,000 shares @ C$4.78 each → C$19,989,960 gross.
• Concurrent Private Placement: 2,092,100 common shares @ C$4.78 each → C$10,000,238 gross.
• Use of Proceeds: Net proceeds (~C$30 million) earmarked for capital required to construct the Cariboo Gold Project and related pre‑construction work.
• Closing Timeline: Expected on or about 2025‑10‑29; must occur no later than 45 days after the original launch release (Oct 8, 2025).
• Regulatory Conditions: Subject to approvals from TSX Venture Exchange, NYSE, and other required regulatory bodies.
• Exemptions Utilized: LIFE Offering conducted under the Listed Issuer Financing Exemption (NI 45‑106) and Coordinated Blanket Order 45‑935; Concurrent Private Placement under NI 45‑106 but not the LIFE exemption, with a statutory hold period of four months + one day for those shares.
• Underwriters: National Bank Financial Inc., BMO Capital Markets, RBC Capital Markets (co‑lead underwriters and co‑bookrunners).

Notable Quotes

(No direct quotes were provided in the release.)