Osisko Development Announces the Vote Results from Its Annual and Special Meeting of Shareholders
OSISKO DEVELOPMENT ANNOUNCES THE VOTE RESULTS FROM
ITS ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS
(Montréal, April 27, 2022) – Osisko Development Corp. (“Osisko Development” or the “ Corporation”) (TSX.V-ODV)
announces that, at the annual and special meeting of shareholders held on April 26, 2022, each of the 6 nominees
listed in the management information circular filed on April 4, 2022 with the regulatory authorities were elected as
directors of the Corporation.
Election of Directors
Based on the proxies received, the following individuals were elected as directors of the Corporation until the next
annual shareholders’ meeting, with the following results:
RESOLUTION No1
Name of Nominee
Votes cast
FOR
Percentage (%)
of votes cast
FOR
Votes
WITHHELD
Percentage (%)
WITHHELD
Marina Katusa 116,471,844 99.997 3,984 0.003
Michèle McCarthy 116,446,149 99.975 29,679 0.025
Duncan Middlemiss 116,445,349 99.974 30,479 0.026
Charles E. Page 116,444,649 99.973 31,179 0.027
Sean Roosen 116,444,800 99.973 31,028 0.027
Éric Tremblay 116,440,821 99.970 35,007 0.030
Appointment and Remuneration of Auditor
Based on the proxies received, PricewaterhouseCoopers, LLP, Chartered Professional Accountants, was appointed
as independent auditor of the Corporation for the ensuing year and the directors are authorized to fix its remuneration,
with the following results:
RESOLUTION No2 Votes cast
FOR
Percentage (%)
of votes cast
FOR
Votes
WITHHELD
Percentage (%)
WITHHELD
Appointment and Remuneration of
Auditor 116,755,518 99.960 46,827 0.040
Approval of the existing Stock Option Plan
Based on the proxies received with respect to the adoption of an ordinary resolution to approve the Corporation’s
existing Stock Option Plan, the results are as follows:
RESOLUTION No3 Votes cast
FOR
Percentage (%)
of votes cast
FOR
Votes cast
AGAINST
Percentage (%)
AGAINST
Ordinary Resolution to approve the
existing Stock Option Plan 115,709,094 99.342 766,734 0.658
- 2 -
Approval of the Share Consolidation
Based on the proxies received with respect to the adoption of a special resolution authorizing an amendment to the
articles of the Corporation to effect a consolidation of the issued and outstanding common shares of the Corporation
for a number to be determined within a range of two (2) and three (3) pre-consolidation common shares and authorizing
the directors of the Corporation to determine the final consolidation ratio within such range, the results are as follows:
RESOLUTION No4 Votes cast
FOR
Percentage (%)
of votes cast
FOR
Votes cast
AGAINST
Percentage (%)
AGAINST
Special resolution to approve the Share
Consolidation 116,414,128 99.947 61,700 0.053
Following the annual and special meeting of shareholders of the Corporation, the Board of Directors determined to
consolidate its common shares on a 3 for one basis, subject to the receipt of all necessary approvals.
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 US$19 per ounce. The 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.
For further information about Osisko Development Corp., please contact:
Jean Francois Lemonde, VP Investor Relations
Telephone: (514) 299-4926
Email: [email protected]
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.
- 3 -
Cautionary Note Regarding Forward-Looking Statements
This news release may contain forward- looking statements and forward- looking information within the meaning of applicable
Canadian securities legislation (collectively, "forward- looking information"), including, but not limited to, obtaining the necessary
approvals to complete the share consolidation, statements relating to the future financial or operating performance of the
Corporation, the Corporation’s mineral projects, the future price of metals, the estimation of mineral resources, the realization of
mineral resource estimates, the timing and amount of estimated future production (if any), capital, operating and exploration
expenditures, costs and timing of the development of new deposits, costs and timing of future exploration, use of proceeds fr om
financings, requirements for additional capital, government regulation of mining operations and mineral exploration activities,
environmental risks, reclamation expenses, title disputes or claims, limitations of insurance coverage, development of the projects,
timing (if at all) to complete a prefeasibility study on the projects. Often, but not always, forward-looking information can be identified
by the use of words and phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that cert ain
actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Although the Corporation believes that the assumptions underlying the forward-looking information contained in this news release
are reasonable, this list is not exhaustive of the factors that may affect any forward-looking information. The key assumptions that
have been made in connection with forward- looking information include the following: the significance of drill results and ongoing
exploration activities; timing to obtain assay results from labs; ability of exploration activities (including drill results) to accurately
predict mineralization; the predictability of geological modelling; the accuracy of the Corporation’s records of its property interests;
the global economic climate; metal prices; environmental risks; community and non- governmental actions; that permits required
for the Corporation’s operations will be obtained on a timely basis in order to permit the Corporation to proceed on schedule with
its planned drilling programs; that skilled personnel and contractors will be available as the Corporation operations continue to
grow; that the price of gold will exceed levels that will render the project of the Co rporation economical; the relevance of the
assumptions and that the Corporation will be able to continue raising the necessary capital to finance its operations.
Forward-looking information involves known and unknown risks, future events, conditions, unc ertainties and other factors which
may cause the actual results, performance or achievements to be materially different from any future results, performance or
achievements expressed or implied by forward- looking information. Such factors include, among ot hers, general business,
economic, competitive, political and social uncertainties; the actual results of current exploration activities; errors in geological
modelling; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of
metals; possible variations of grade or recovery rates; failure of plant and equipment or processes to operate as anticipated;
accidents, labour disputes and other risks of the mining industry; political instability; and delays in obtaining governmental approvals
or financing or in the completion of development or construction activities.
Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ
materially from those described in forward-looking information, there may be other factors that cause actions, events or results to
differ from those anticipated, estimated or intended, including the risk factors stated in its most recent Annual Information Form
filed on SEDAR (www.sedar.com). Forward-looking information contained herein is given as of the date of this news release and
the Corporation disclaims any obligation to update any forward-looking information, whether as a result of new information, future
events or results, except as may be required by applicable securities laws. There can be no assurance that forward- looking
information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on forward- looking information.