Osisko Development Closes C$82.5 Million Private Placement

Core Viewpoint - Osisko Development Corp. successfully closed an oversubscribed private placement offering, raising approximately C$82.5 million through the issuance of 15,409,798 common shares [1]. Group 1: Offering Details - The offering was co-led by National Bank Financial Inc., BMO Capital Markets, and RBC Capital Markets as co-lead underwriters and co-bookrunners [2]. - The proceeds from the offering will be used for eligible Canadian exploration expenses and to support the construction of the Cariboo Gold Project [3][4]. - The offering includes various types of shares, such as National Flow-Through Shares and British Columbia Flow-Through Shares, with specific gross proceeds of C$20,003,100 and C$10,006,920 respectively [6]. Group 2: Insider Participation - Double Zero Capital LP, an insider of the company, subscribed for 2,447,775 common shares at a price of C$4.78, contributing gross proceeds of C$11,700,365 [6]. - The subscription by Double Zero is classified as a related party transaction, and the company is relying on exemptions from formal valuation and minority shareholder approval requirements [7]. Group 3: Regulatory and Compliance - The common shares issued will be subject to a statutory hold period of four months and one day under Canadian securities laws, pending final acceptance by the TSX Venture Exchange [5]. - The company is exempt from certain regulatory requirements due to the fair market value of the transaction being less than 25% of its market capitalization [7]. Group 4: Company Overview - Osisko Development Corp. is focused on developing gold projects in mining-friendly jurisdictions, with the Cariboo Gold Project as its flagship asset [9]. - The company aims to become an intermediate gold producer while minimizing development risks and enhancing mineral resources [9].