- Osisko Development Corp. (ODV) has completed a private placement for gross proceeds of approximately $103.5 million
- Osisko issued a total of 13,732,900 subscription receipts and 9,525,850 units
- Net proceeds from the sale of the subscription receipts will be released from escrow upon the completion of all conditions precedent to the company’s acquisition of Tintic Consolidated Metals LLC
- Osisko Development is a premier gold development company in North America advancing the Cariboo Gold Project and other properties in Canada and Mexico
- Osisko Development Corp. (ODV) is up 1.35 per cent, trading at C$4.50 per share at 10 am EST
Osisko Development Corp. (ODV) has completed its previously announced private placement for gross proceeds of approximately $103.5 million.
Osisko issued a total of 13,732,900 subscription receipts and 9,525,850 units.
Each unit is comprised of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional share at a price of $7.60 for a period of 60 months following the closing date of the offering.
Each subscription receipt entitles the holder to receive one unit.
The Offering was co-led by Eight Capital, BMO Nesbitt Burns Inc. and National Bank Financial Inc., on behalf of a syndicate of underwriters including Canaccord Genuity Corp., RBC Capital Markets, PI Financial Corp., and Desjardins Securities Inc.
The underwriters were paid a cash commission equal to 5 per cent of the gross proceeds of the offering.
The gross proceeds from the sale of the subscription receipts have been placed into escrow with TSX Trust Company and will be released upon the completion, satisfaction or waiver of all conditions precedent to the company’s proposed acquisition of Tintic Consolidated Metals LLC.
Osisko Development Corp. is a gold development company advancing the Cariboo Gold Project and other Canadian and Mexican properties.
Osisko Development Corp. (ODV) is up 1.35 per cent, trading at C$4.50 per share at 10 am EST.