- Osisko Development (ODV) announces a $45 million bought deal offering
- The company will issue 6,819,000 units at a price of $6.60 per unit
- Net proceeds will be used to advance the development of its mining projects
- The company’s projects include the Cariboo Gold Project in B.C., the Tintic Project in Utah and the San Antonio Gold Project in Sonora, Mexico
- Osisko Development Corp. (ODV) opened trading at C$7.54
Osisko Development (ODV) announces a $45 million bought deal offering.
The company has signed an agreement with Eight Capital and National Bank Financial Inc., as co-lead underwriters and joint bookrunners, and on behalf of a syndicate of underwriters. The underwriters have agreed to purchase, on a bought deal basis, 6,819,000 units at a price of $6.60 per unit for gross proceeds of $45,005,400.
Each unit will consist of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of $8.55 per share for a period of 36 months.
The agents have been granted an over-allotment option.
Net proceeds will be used to advance the development of its mining projects, and for general corporate purposes.
The offering is scheduled to close on or about March 2 and is subject to the receipt of all applicable regulatory approvals.
Osisko Development Corp. is a North American gold development company focused on advancing its 100 per cent-owned Cariboo Gold Project in B.C.,the recently acquired Tintic Project in Utah and the San Antonio Gold Project in Sonora, Mexico.
Osisko Development Corp. (ODV) opened trading at C$7.54.