Osisko Development Completes Sale of San Antonio Gold Project

Core Viewpoint - Osisko Development Corp. has successfully completed the sale of its 100% interest in the San Antonio Gold Project to Axo Copper Corp., marking a significant transaction for the company [1]. Group 1: Transaction Details - Osisko Development received 15,325,841 common shares of Axo, representing 9.99% of Axo's issued and outstanding common shares on a non-diluted basis at the closing of the transaction [2]. - The company is entitled to contingent deferred payments, including a cash payment equal to 70% of any Mexican value-added tax refund due to Sapuchi Mexico, and a payment of US$2,000,000 upon the public filing of a feasibility study by Axo [6]. - If Axo raises at least US$10,000,000 in equity financing, Osisko Development will retain a 9.99% interest in Axo, with specific conditions based on the issue price of the shares [2][6]. Group 2: Company Overview - Osisko Development Corp. is focused on developing past-producing mining camps with district-scale potential, aiming to become an intermediate gold producer through its flagship Cariboo Gold Project in British Columbia, Canada [4]. - The company also has a project pipeline that includes the Tintic Project in Utah, which has significant exploration potential and access to established infrastructure [4]. - Osisko Development emphasizes a disciplined approach to capital allocation, development risk management, and mineral inventory growth in mining-friendly jurisdictions [4].