Source: Osisko Mining.
  • Osisko Mining (OSK) will undertake a C$75 million bought-deal private placement
  • The company will use the proceeds to advance its Windfall Project in Quebec (4.1 million ounces of gold measured and indicated), as well as for working capital and general corporate purposes
  • Closing is anticipated on or about February 28, 2023
  • Osisko is a mineral exploration company focused on the acquisition, exploration and development of precious metal resources in Canada
  • Osisko Mining (OSK) closed down by 10.45 per cent trading at $3 per share

Osisko Mining (OSK) will undertake a C$75 million bought-deal private placement.

The company will issue 24,195,000 units priced at $3.10 for gross proceeds of $75,004,500.

Each unit consists of one OSK common share and one-half-of-one common share purchase warrant.

Each warrant entitles the holder to acquire one OSK common share for $4 for 18 months from the closing of the offering.

Osisko will use the proceeds to advance its Windfall Project in James Bay, Quebec, as well as for working capital and general corporate purposes.

Windfall offers a measured and indicated resource estimate of 4.1 million ounces of gold at 11,061 MT grading 11.4 g/t gold.

Canaccord Genuity will lead the financing on behalf of a syndicate of underwriters.

The underwriters may purchase up to an additional 8,065,000 units at the offering price for additional gross proceeds of up to $25,001,500 up to 48 hours prior to the closing.

Closing is anticipated on or about February 28, 2023.

All securities issued will have a hold period in Canada of four months and one day in accordance with applicable securities laws.

Osisko is a mineral exploration company focused on the acquisition, exploration and development of precious metal resources in Canada.

Osisko Mining (OSK) closed down by 10.45 per cent, trading at $3 per share.


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