Osisko Metals Closes C$15 Million "Bought-Deal" Flow-Through Share Financing

Executive Summary

• Osisko Metals closed a bought‑deal private placement, issuing 11,812,000 flow‑through common shares at C$1.27 each for gross proceeds of C$15,001,240.
• The net proceeds will be used to fund eligible Canadian exploration expenses on the company’s Gaspé Copper and Pine Point projects, with expenditures to be incurred by 31 Dec 2027 and renounced to purchasers by 31 Dec 2026.
• Existing strategic investors Agnico Eagle Mines Ltd. and Hudbay Minerals Inc., together with Rosseau Asset Management Ltd., purchased the entire offering on a follow‑on transaction at C$0.85 per share for approximately C$10 million.

Key Details

• Offering size: 11,812,000 flow‑through common shares.
• Price per share: C$1.27 (gross proceeds C$15,001,240).
• Use of proceeds: Eligible Canadian exploration expenses qualifying as “flow‑through critical mineral mining expenditures” on Gaspé Copper and Pine Point projects.
• Expenditure timeline: To be incurred on or before 31 Dec 2027; renunciation to purchasers no later than 31 Dec 2026.
• Hold period: Shares subject to a hold period of four months and one day from the date of issuance.
• Co‑lead managers: Canaccord Genuity Corp. and BMO Capital Markets.
• Follow‑on purchase: Agnico Eagle Mines Ltd., Hudbay Minerals Inc., and Rosseau Asset Management Ltd. bought all shares at C$0.85 per share, total ≈ C$10 million.
• Regulatory condition: Offering remains subject to final acceptance by the Toronto Stock Exchange.

Notable Quotes

(No direct quotes were provided in the release.)