Osisko Development to Close Second Tranche of Non-Brokered Private Placement of Units

Core Viewpoint - Osisko Development Corp. is proceeding with a second tranche of a non-brokered private placement due to strong market demand, aiming to raise up to approximately US$25 million [1][2]. Group 1: Offering Details - The second tranche will consist of up to 13,888,888 units priced at US$1.80 per unit [1]. - Each unit includes one common share and one warrant, with each warrant allowing the purchase of an additional common share at US$3.00, valid until October 1, 2029 [3]. - The anticipated closing date for the second tranche is around the week of October 14, 2024, pending necessary approvals [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be directed towards advancing the Cariboo Gold Project and Tintic Project, as well as for general corporate purposes [4]. Group 3: Company Overview - Osisko Development Corp. is focused on developing gold projects in mining-friendly jurisdictions, with the goal of becoming an intermediate gold producer [6]. - The company is advancing its 100%-owned Cariboo Gold Project in British Columbia, the Tintic Project in Utah, and the San Antonio Gold Project in Mexico, leveraging historical mining data and existing infrastructure [6].