Osisko Development and Electric Elements File Early Warning Report for Niobay Metals Inc.

Executive Summary

• Osisko Development Corp., via its wholly‑owned subsidiary Barkerville Gold Mines Ltd., acquired 8,571,429 units of Niobay Metals Inc. for a total purchase price of $1,200,000.06 ($0.14 per unit).
• The transaction increases Osisko’s indirect ownership of Niobay to approximately 9.9% of basic common shares (13.8% on a partially diluted basis) and, together with joint actor Electric Elements Mining Corp., to an aggregate 12.3% basic (16.2% partially diluted).
• The securities were purchased for investment purposes; Osisko reserves the right to acquire additional Niobay securities or dispose of its holdings at any time.

Key Details

• Units Acquired: 8,571,429 units (each unit = 1 common share + 1 common‑share purchase warrant).
• Purchase Price: $0.14 per unit; total consideration $1,200,000.06.
• Pre‑offering Ownership (indirect):
• 9,857,143 Common Shares (~7.4% basic) held through BGM.
• Additional 4,615,400 Common Shares (~3.5% basic) held jointly with Electric Elements Mining Corp. (EEM).
• Post‑offering Ownership (indirect):
• 18,428,572 Common Shares and 8,571,429 Warrants through BGM (~9.9% basic, 13.8% partially diluted).
• Jointly with EEM, an additional 4,615,400 Common Shares (~2.5% basic).
• Aggregate Post‑offering Stake: Approximately 12.3% of Niobay’s basic common shares and 16.2% on a partially diluted basis (including warrants).
• Purpose of Acquisition: Investment; Osisko may acquire or dispose of additional Niobay securities in the future, subject to market conditions and business considerations.
• Regulatory Filing: An early‑warning report for Niobay will be filed with Canadian securities regulators and made available on SEDAR+.

Notable Quotes

(No direct quotes were provided in the release.)