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].

Core Viewpoint - Osisko Development Corp. successfully closed a private placement of 99,065,330 units at a price of US$2.05 per unit, raising approximately US$203 million to fund the Cariboo Gold Project and for general corporate purposes [1][5]. Offering Details - The offering consists of a brokered private placement of 58,560,000 units for approximately US$120 million and a non-brokered private placement of 40,505,330 units for approximately US$83 million [2]. - Double Zero Capital LP subscribed for approximately US$75 million in the non-brokered offering, representing about 15.4% of the issued and outstanding common shares post-offering [2]. Management Commentary - The Chairman and CEO expressed satisfaction with the offering's completion and highlighted it as a strong endorsement of the Cariboo Gold Project, following a previous US$450 million project financing [3]. Use of Proceeds - The net proceeds from the offering will be used to fund the equity portion of the capital required for the Cariboo Gold Project and for general corporate purposes [5]. Underwriters and Fees - The brokered offering was led by BMO Capital Markets and RBC Capital Markets, with a cash commission of 4.5% paid to the underwriters [6]. Insider Participation - Certain insiders subscribed for 628,000 units, generating gross proceeds of US$1,287,400, which is considered a related party transaction [9]. Double Zero's Investment - Double Zero acquired 36,600,000 common shares and 18,300,000 warrants, representing approximately 16.0% of the issued common shares on a non-diluted basis [10]. - An investor rights agreement was established, granting Double Zero the right to nominate one director and other customary rights [13].

Core Points - Osisko Development Corp. held its annual and special meeting of shareholders on May 7, 2025, with 80,489,188 common shares voted, representing approximately 58.9% of total issued shares [1] Group 1: Election of Directors - All nominated directors were elected to the board for the upcoming year, with Sean Roosen receiving 97.78% of votes for, and Charles E. Page receiving 97.99% [2] Group 2: Appointment of Auditor - PricewaterhouseCoopers LLP was re-appointed as the independent auditor with 82.27% of votes for, while 17.73% of votes were withheld [3] Group 3: Approval of the Omnibus Plan - The Omnibus equity incentive plan was approved with 86.51% of votes for, while 13.49% voted against it; existing stock option and restricted share unit plans were not voted on as the Omnibus Plan supersedes them [4] Group 4: Company Overview - Osisko Development Corp. is focused on gold development in North America, aiming to become an intermediate gold producer through its Cariboo Gold Project in British Columbia, Canada, and other projects in Utah and Mexico [5][6]