Neutral
GlobeNewsWire
9 days ago
Osisko Development Announces Upsizing of Previously Announced "Bought Deal" LIFE Offering; Additional Concurrent Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES MONTREAL, Oct. 09, 2025 (GLOBE NEWSWIRE) -- Osisko Development Corp. (NYSE: ODV, TSXV: ODV) ("Osisko Development" or the "Company") is pleased to announce that, as a result of excess demand, it has entered into an amending agreement with National Bank Financial Inc., BMO Capital Markets and RBC Capital Markets, acting as co-lead underwriters and co-bookrunners (collectively, the "Underwriters"), to increase the size of its previously announced "bought deal" financing to C$60 million (the "Amendment"). LIFE Offering As a result of the Amendment, Osisko Development will now issue three tranches of shares pursuant to the LIFE Exemption (as defined herein) for aggregate gross proceeds of C$49,999,980 (the "LIFE Offering"), as follows: National Flow-Through Shares: 2,990,000 common shares of the Company (the "FT Shares") that will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act") at a price of C$6.69 per FT Share for gross proceeds of C$20,003,100; British Columbia Flow-Through Shares: 1,444,000 common shares of the Company to certain eligible British Columbia resident subscribers (the "BC FT Shares", and together with the FT Shares, the "Flow-Through Shares") that will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Tax Act at a price of C$6.93 per BC FT Share for gross proceeds of C$10,006,920; and Common Shares: 4,182,000 common shares of the Company (the "Common Shares") at a price of C$4.78 per Common Share for gross proceeds of C$19,989,960.