Osisko Development Announces Non-Brokered Private Placement and Proposed NYSE Listing
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OSISKO DEVELOPMENT ANNOUNCES
NON-BROKERED PRIVATE PLACEMENT AND PROPOSED NYSE LISTING
Montréal, February 2, 2022 – Osisko Development Corp. ("Osisko Development") (ODV: TSX-V)
is pleased to announce that it has received expressions of interest in connection with a non-brokered
private placement of up to 2,857,142 subscription receipts of Osisko Development ("Subscription
Receipts") at a price of US$ 3.50 per Subscription Receipt for aggregate gross proceeds of up to
US$10 million (the "Offering"). Osisko Development may elect to increase the size of the Offering
by issuing additional Subscription Receipts, subject to approval of the TSX Venture Exchange.
Each Subscription Receipt issued pursuant to the Offering will entitle the holder thereof to receive,
upon the satisfaction of the Escrow Release Condition (as defined below) and without payment of
additional consideration, one unit of Osisko Development (each, a "Unit"). Each Unit will comprise of
one common share in the capital of Osisko Development (each, a " Common Share") and one
Common Share purchase warrant (each whole warrant, a "Warrant"), with each Warrant entitling the
holder thereof to purchase one additional Common Share at a price of US$6.00 per Common Share
for a period of five years following the date of issue.
The gross proceeds of the Offering will be held in escrow pending, among other things, the
completion of the listing of the Common Shares on the New York Stock Exchange ("Escrow Release
Condition"), which is contingent upon Osisko Development meeting the listing requirements of the
New York Stock Exchange (" NYSE") and may involve, among other things, a consolidation of the
Common Shares. If the Escrow Release Condition is met, Osisko Development anticipates that the
proceeds of the Offering will be used to advance the development of Osisko Development's mineral
assets and for general corporate purposes.
The Offering is subject to regulatory approvals, including conditional listing approval of the TSX
Venture Exchange for the Common Shares and Warrants. The securities issued pursuant to the
Offering will be subject to applicable hold periods, including the typical four month hold period from
the date of closing of the Offering. The Offering may be closed in multiple tranches and is not subject
to a minimum offering.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities
in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful.
No securities may be offered or sold in the United States or in any other jurisdiction in which such
offer or sale would be unlawful absent registration under the U.S. Securities Act of 1933, as amended,
or an exemption therefrom or qualification under the securities laws of such other jurisdiction or an
exemption therefrom.
About Osisko Development Corp.
Osisko Development Corp. is uniquely positioned as a premier gold development company in North
America to advance the Cariboo Gold Project and other Canadian and Mexican properties, with the
objective of becoming the next mid- tier gold producer. The Cariboo Gold Project, located in central
British Columbia, Canada, is Osisko Development 's flagship asset with measured and indicated
resource of 21.44 million tonnes at 4.6 g/t Au for a total of 3.2 million ounces of gold and inferred
resource of 21.69 million tonnes at 3.9 g/t Au for a total of 2.7 million ounces of gold. The considerable
exploration potential at depth and along strike distinguishes the Cariboo Gold Project relative to other
development assets as does the historically low, all -in discovery costs of U S$19 per ounce. The
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Cariboo Gold Project is advancing through permitting as a 4,750 tonnes per day underground
operation with a feasibility study on track for completion in the first half of 2022. Osisko Development's
project pipeline is complemented by potential near -term production targeted from the San Antonio
Gold Project, located in Sonora, Mexico and early exploration stage properties including the Coulon
Project and James Bay Properties located in Québec, Canada as well as the Guerrero Properties
located in Guerrero, Mexico.
For further information about Osisko Development Corp., please contact:
Sean Roosen, CEO
Telephone: (514) 940-0685
Email: [email protected]
Jean Francois Lemonde, VP Investor Relations
Telephone: (514) 299-4926
Email: [email protected]
Follow us on our Social Media Platforms:
Facebook:
https://www.facebook.com/osiskodev
Linked In:
http://www.linkedin.com/company/osisko-dev
Youtube:
https://www.youtube.com/channel/UC-1LPPhZ9WZnOuWsf6mRWhw
Twitter:
https://twitter.com/OsiskoDev
Cautionary Note Regarding Forward-Looking Information
Certain statements contained in this news release may be deemed "forward‐looking statements" within the
meaning of applicable Canadian securities laws. These forward‐looking statements, by their nature, require
Osisko Development to make certain assumptions and necessarily involve known and unknown risks and
uncertainties that could cause actual results to differ materially from those expressed or implied in these
forward‐looking statements. Forward ‐looking statements are not guarantees of performance. Words such
as "may", "will", "would", "could", "expect", "believe", "plan", "anticipate", "intend", "estimate", "continue", or
the negative or comparable terminology, as well as terms usually used in the future and the conditional, are
intended to identify forward ‐looking statements. Information contained in forward ‐looking statements,
including with respect to the expected size of the Offering, the use of proceeds of the Offering, the
jurisdictions in which the Subscription Receipts will be offered or sold, the number of Subscription Receipts
offered or sold, the ability of Osisko Development to close the Offering on terms announced (if at all), the
timing and ability of Osisko Development to satisfy the customary listing conditions of the TSX Venture
Exchange (if at all), the timing and ability of Osisko Development to complete the listing on the NYSE, meet
the minimum listing requirements of the NYSE and satisfy the Escrow Release Condition (if at all), the
timing and ability of Osisko Development to obtain all necessary approvals, future production of mines, is
based upon certain material assumptions that were applied in drawing a conclusion or making a forecast
or projection, including management 's perceptions of historical trends, current conditions and expected
future developments, public disclosure from operators of the relevant mines, as well as other considerations
that are believed to be appropriate in the circumstances. Osisko Development considers its assumptions
to be reasonable based on information currently available, but cautions the reader that their assumptions
regarding future events, many of which are beyond the control of Osisko Development, may ultimately
prove to be incorrect since they are subject to risks and uncertainties that affect Osisko Development, and
its business.
For additional information with respect to these and other factors and assumptions underlying the forward ‐
looking statements made in this news release concer ning Osisko Development, see t he filing statement
dated November 20, 2020, which is available electronically under Osisko Development 's issuer profile on
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SEDAR ( www.sedar.com). The forward ‐looking statements set forth herein concerning Osisko
Development reflect management 's expectations as at the date of this news release and are subject to
change after such date. Osisko Development disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future events or otherwise, other than
as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange ) accepts responsibility for the adequacy or accuracy of
this news release. No stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein.