- Osisko Metals (OM) has increased its private placement to $11 million
- The company will issue no less than 16,296,500 flow-through units and 4.4 million flow-through shares
- The offering is expected to close on June 16, 2022
- Osisko Metals is a Canadian exploration and development company
- Osisko Metals Inc. (OM) opened trading today at $0.405
Osisko Metals (OM) has increased its previously announced private placement to $11 million.
The company will issue no less than 16,296,500 flow-through units at a price of $0.54 per unit for gross proceeds of no less than $8.8 million and up to 4,400,000 flow-through shares at a price of $0.50 per for gross proceeds of approximately $2.2 million.
Each whole FT warrant will entitle the holder to purchase one additional common share for $0.57 per share.
The company has issued the underwriters an over-allotment option to purchase up to an additional 2,440,000 flow-through units and 660,000 flow-through shares for additional gross proceeds of up to approximately $1.65 million.
Proceeds will be used to incur eligible expenses related to the Pine Point Zinc Project in Northwest Territories and the Gaspé Copper Project in Quebec.
The underwriters will receive a cash commission and broker warrants.
The offering is expected to close on June 16, 2022, and is subject to the receipt of all necessary approvals.
The securities issued will be subject to a four-month hold period.
Osisko Metals is a Canadian exploration and development company.
Osisko Metals Inc. (OM) opened trading today at $0.405.
