Osisko Metals Closes C$25 Million Flow-Through Share Financing
Osisko secures strategic allies for its Quebec copper project through premium flow-through capital.
Osisko Metals Incorporated closed a C$25 million non-brokered private placement of flow-through shares on November 4, 2026. The company issued 9,461,840 common shares at a price of C$2.64 per share, generating gross proceeds of C$24,979,257.60.
All shares were purchased by existing strategic investors Agnico Eagle Mines Limited and Hudbay Minerals Inc. as a follow-on transaction. Proceeds are designated for eligible Canadian exploration expenses on the company's Québec projects, with expenditures required by December 31, 2027, and tax-credit renunciations to purchasers effective no later than December 31, 2026.
The transaction was arranged by PearTree Securities Inc. and is subject to final acceptance by the Toronto Stock Exchange. Shares are subject to a statutory hold period of four months and one day from issuance.
Osisko Metals Incorporated (OM) has closed a financing deal that extends the company’s cash runway and directly funds its ongoing 2026 drill program and future technical studies for the Gaspé Copper Project. The transaction closes at an issue price of C$2.64, a figure that represents a significant premium over the recent market trading range. This closing serves as a direct follow-up to previously announced flow-through financing structures, aligning with the company's stated capital raising timeline.
The participation of Agnico Eagle and Hudbay Minerals reinforces the strategic value of the asset and provides a stable shareholder base, reducing near-term dilution risk from open-market sales. The transaction does not alter the fundamental development timeline but secures the necessary capital to execute the planned exploration and study phases without immediate pressure on the balance sheet.
Osisko Metals Incorporated (OM) is a Canadian critical minerals exploration and development company whose management team is recognized for the development and sale of Canadian Malartic and Windfall. The company’s flagship asset, the Gaspé Copper Project, is located in Québec and represents one of North America's largest undeveloped copper deposits.
An April 2026 Mineral Resource Estimate (MRE) reported 1.83 billion tonnes of Measured and Indicated resources at 0.32% CuEq, containing 4.88 million tonnes of copper, alongside significant molybdenum and silver byproducts. The project is situated on a brownfield site with existing infrastructure, including paved highway access, port proximity, and electrical substation connectivity.
Osisko Metals also holds the Pine Point Project in the Northwest Territories via a joint venture with Appian Capital Advisory LLP. Additionally, the company recently spun out the Osisko Critical Minerals Corporation (OCMC) to hold New Brunswick assets.