Osisko Development Announces C$30 Million Bought Deal Life Offering of National and BC Flow-Through Shares

Executive Summary

• Osisko Development Corp. announced a bought‑deal private placement of two tranches of flow‑through shares for aggregate gross proceeds of C$30,010,020.
• The offering consists of 2,990,000 National Flow‑Through Shares at C$6.69 each (C$20,003,100) and 1,444,000 British Columbia Flow‑Through Shares at C$6.93 each (C$10,006,920).
• Proceeds will be used to incur eligible Canadian exploration expenses on the Company’s BC properties, with expenditures to be completed by 31 Dec 2026 and renounced by 31 Dec 2025.

Key Details

• Underwriters: National Bank Financial Inc., BMO Capital Markets, RBC Capital Markets (co‑lead underwriters and co‑bookrunners).
• Structure: Bought‑deal private placement under the LIFE exemption; cash commission to underwriters equal to 4.50% of gross proceeds.
• Pricing & Quantity:
• National Flow‑Through Shares – 2,990,000 shares @ C$6.69 = C$20,003,100.
• British Columbia Flow‑Through Shares – 1,444,000 shares @ C$6.93 = C$10,006,920.
• Total Gross Proceeds: C$30,010,020.
• Use of Proceeds: Fully allocated to eligible “Canadian exploration expenses” qualifying as flow‑through mining expenditures (including BC‑specific flow‑through mining expenditures) on the Company’s properties in British Columbia.
• Closing Timeline: Expected closing on or about 29 Oct 2025; must occur no later than 45 days after the release date, subject to regulatory approvals (TSX Venture Exchange and NYSE).
• Renunciation Schedule: Qualifying expenditures to be renounced to initial purchasers by 31 Dec 2025.
• Re‑Offer Mechanism: Certain purchasers may donate or sell shares to charities or other investors on the closing date; re‑offer shares may be sold in Canada and offshore under applicable exemptions, without triggering prospectus requirements.
• Regulatory Framework: Offering made pursuant to the listed issuer financing exemption (NI 45‑106) and Coordinated Blanket Order 45‑935 (LIFE Exemption). No statutory hold period applies.

Notable Quotes

(No executive quotes were included in the release.)