Osisko Gold Announces Proposed US$500 Million Senior Secured Notes Offering to Refinance Appian Project Financing Facility and Advance Cariboo Gold Project

Osisko Gold Group Inc. has announced its intention to offer and sell up to US$500 million in aggregate principal amount of senior secured notes due 2031. The company intends to use the proceeds to refinance its existing senior secured project loan facility with Appian Capital Advisory Limited and to fund the construction of the Cariboo Gold Project in British Columbia.

The notes will be secured by a first-priority lien on the properties of the Company and its guarantors. The offering will be conducted via private placement to qualified institutional buyers and non-U.S. persons. Specifically, the securities will be sold to qualified institutional buyers under Rule 144A, to non-U.S. persons outside the U.S. under Regulation S, and in Canada on a private placement basis.

The proceeds from the offering will be allocated as follows: approximately US$120.9 million will be used to repay all amounts outstanding and terminate commitments under the Appian Credit Facility. A segregated interest reserve account equal to the first five interest payments on the Notes will also be funded. The remaining net proceeds will be directed to a segregated disbursement account for advancing the Cariboo Gold Project.

The notes will be fully and unconditionally guaranteed by certain subsidiaries, which are expected to include Barkerville Gold Mines Ltd. The security package includes a first-priority lien on the Company’s and each guarantor’s property, encompassing equity interests in subsidiaries, interest reserve accounts, disbursement accounts, and personal and real property, subject to exceptions.

The aggregate principal amount, interest rate, and other terms of the notes are to be determined at pricing and are dependent on market conditions.