Osisko Development Closes C$82.5 Million Private Placement

Executive Summary

• Osisko Development Corp. successfully closed an oversubscribed private placement, raising approximately C$82.5 million in gross proceeds.
• The offering comprised flow‑through shares (FT and BC FT) and common shares issued in two tranches: a LIFE Offering and a Concurrent Private Placement.
• Proceeds will fund eligible Canadian exploration expenses on British Columbia properties and provide capital for construction and pre‑construction activities at the Cariboo Gold Project.

Key Details

• Total Gross Proceeds: ~C$82.5 million from 15,409,798 common shares.
• LIFE Offering (Flow‑Through Shares):
• 2,990,000 FT Shares @ C$6.69 each → C$20,003,100 gross proceeds.
• 1,444,000 BC FT Shares @ C$6.93 each → C$10,006,920 gross proceeds.
• 4,182,000 Common Shares @ C$4.78 each → C$19,989,960 gross proceeds.
• Concurrent Private Placement (Common Shares): 6,793,798 shares @ C$4.78 each → C$32,474,354 gross proceeds.
• Underwriters: National Bank Financial Inc., BMO Capital Markets, and RBC Capital Markets (co‑lead underwriters and co‑bookrunners).
• Commission Paid to Underwriters: 4.5% of aggregate gross proceeds.
• Insider Participation: Double Zero Capital LP subscribed for 2,447,775 common shares @ C$4.78 each → C$11,700,365 gross proceeds (related party transaction exempted under MI 61‑101).
• Use of Proceeds – Flow‑Through Shares: To incur eligible Canadian exploration expenses qualifying as flow‑through mining expenditures on BC properties; expenditures to be incurred by 31 Dec 2026 and renounced to purchasers by 31 Dec 2025.
• Use of Proceeds – Common Shares: To contribute capital required for construction and pre‑construction activities at the Cariboo Gold Project.
• Statutory Hold Period: Shares issued under the Concurrent Private Placement subject to a four‑month‑plus‑one‑day hold period per Canadian securities law.
• Regulatory Condition: Offering remains subject to final acceptance by the TSX Venture Exchange.

Notable Quotes

(No executive quotes were included in the release.)