Osisko Development increases financing to $60-million

Executive Summary

• Osisko Development Corp. amends its previously announced bought‑deal financing, increasing total gross proceeds to approximately $60 million.
• The amendment adds three tranches of shares under the Listed Issuer Financing Exemption (LIFE) for a combined gross proceeds of $49,999,980 and a concurrent private placement for $10,000,238, yielding net proceeds of roughly $30 million.
• Proceeds will be used to fund construction and pre‑construction activities at the Cariboo gold project.

Key Details

• Amended Offering Size: Increased to $60 M total gross proceeds.
• LIFE Offering Tranches:
• National flow‑through shares: 2,990,000 common shares @ $6.69 each → $20,003,100 gross proceeds.
• British Columbia flow‑through shares: 1,444,000 common shares @ $6.93 each → $10,006,920 gross proceeds.
• Common shares: 4,182,000 common shares @ $4.78 each → $19,989,960 gross proceeds.
• Concurrent Private Placement: 2,092,100 common shares @ $4.78 each → $10,000,238 gross proceeds.
• Total Gross Proceeds (LIFE + Private Placement): $59,999,? (≈ $60 M).
• Net Proceeds for Project Funding: Approximately $30 million earmarked for Cariboo gold project construction and related pre‑construction activities.
• Closing Timeline: Expected on or about Oct. 29, 2025, no later than 45 days after the Oct. 8 launch release, subject to regulatory approvals (TSX Venture Exchange, NYSE).
• Regulatory Framework:
• LIFE offering conducted under NI 45‑106 Part 5A exemptions; shares not subject to statutory hold period.
• Concurrent private placement also exempt from prospectus filing but subject to a four‑month‑plus‑one‑day statutory hold period.
• Underwriters / Co‑Lead Bookrunners: National Bank Financial Inc., BMO Capital Markets, RBC Capital Markets.

Notable Quotes

(No direct quotes provided in the release.)