Osisko Development Announces US$195 Million Financing

Core Viewpoint - Osisko Development Corp. has announced a private placement offering to raise approximately US$120 million to fund the Cariboo Gold Project and general corporate purposes [1][5]. Group 1: Offering Details - The company will issue 58,560,000 units at a price of US$2.05 per unit, resulting in gross proceeds of US$120,048,000 [1]. - Each unit consists of one common share and one-half of a common share purchase warrant, with the warrants exercisable at US$2.56 for 24 months [2]. - The underwriters have an option to purchase an additional 2,440,000 units, bringing the total offering size to a maximum of US$125 million [3]. Group 2: Strategic Investor Participation - Concurrently, the company plans a non-brokered private placement of 36,600,000 units to a strategic investor for gross proceeds of US$75,030,000 [4]. - An investor rights and voting support agreement will be established with the strategic investor, allowing them to identify a director for the company board [4]. Group 3: Use of Proceeds - The net proceeds from both the offering and the non-brokered private placement will be used to fund the equity portion of the Cariboo Gold Project and for general corporate purposes [5]. - The company anticipates that these funds, along with a US$450 million project loan credit facility, will be sufficient to construct the Cariboo Gold Project [5]. Group 4: Timeline and Regulatory Approvals - The offering is expected to close around August 15, 2025, pending necessary regulatory approvals from the TSX Venture Exchange and the New York Stock Exchange [6].