- Osisko Metals (OM) has closed a bought deal private placement for gross proceeds of $12.7 million
- The company issued a total of 4,600,000 flow-through common shares, and 19,166,667 flow-through units
- Proceeds will be used to incur eligible expenses related to the Pine Point Zinc and Gaspé projects
- Osisko Metals is a Canadian exploration and development company
- Osisko Metals Inc. (OM) is down 3.75 per cent on the day, trading at C$0.385 per share at 1 pm ET
Osisko Metals (OM) has closed its previously announced bought deal private placement for gross proceeds of $12.7 million.
The company issued a total of 4,600,000 flow-through common shares and 19,166,667 flow-through units. Each unit consists of one common share and one-half of one common share purchase warrant.
Each warrant entitles the holder to acquire one additional common share for a period of 60 months following the closing date of the offering.
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 offering was led by Eight Capital, on behalf of itself and Haywood Securities Inc. The underwriters were paid a cash commission equal to 6.5 per cent of the gross proceeds of the offering and 1,416,458 compensation warrants. Each compensation warrant entitles the holder to purchase one common share for 24 months.
All securities issued will be subject to a four-month hold period.
Osisko Metals is a Canadian exploration and development company.
Osisko Metals Inc. (OM) is down 3.75 per cent on the day, trading at C$0.385 per share at 1 pm ET.