Osisko Development Closes Previously-Announced CDN$40.3 Million "Bought Deal" Brokered Private Placement of Units
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
OSISKO DEVELOPMENT CLOSES PREVIOUSLY-ANNOUNCED
CDN$40.3 MILLION "BOUGHT DEAL" BROKERED PRIVATE PLACEMENT OF UNITS
Montréal, December 30 , 2020 – Osisko Development Corp. (" Osisko Development" or the
"Corporation") (ODV: TSX -V) is pleased to announce the successful completion of its previously-
announced "bought deal " brokered private placement of 5,367,050 units of the Corporation (the
"Units") at a price of CDN$7.50 per Unit for aggregate gross proceeds of approximately CDN$40.3
million, including the exercise in full of the underwriters ' option (the "Offering"). Each Unit consists
of one common share of the Corporation and one-half of one common share purchase warrant of the
Corporation, with each whole warrant entitling the holder thereof to acquire one common share of
the Corporation at a price of CDN$10.00 per share on or prior to December 1, 2023.
The net proceeds of the Offering will be used to further develop the Cariboo Gold Project and other
exploration assets of Osisko Development, and for general corporate purposes.
The Offering was co-led by Canaccord Genuity Corp. and National Bank Financial Inc., on behalf of
a syndicate of underwriters that included Eight Capital, RBC Dominion Securities Inc., CIBC World
Markets Inc., Desjardins Securities Inc., PI Financial Corp., Raymond James Ltd., Scotia Capital Inc.,
Haywood Securities Inc., Industrial Alliance Securities I nc., and Paradigm Capital Inc . In
consideration for their services, the Corporation paid the u nderwriters a cash commission equal to
5.0% of the gross proceeds of the Offering.
All securities issued under the Offering will be subject to a hold period expiring four months and one
day from the date hereof. The Offering is subject to final acceptance of the TSX Venture Exchange.
Osisko Development is also pleased to announce that i t expects to close its previously -announced
non-brokered private placement of Units on or about January 8, 2020.
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. 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
prior to registration under U.S. Securities Act of 1933 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 well-capitalized and 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, is Osisko Development 's flagship asset with measured and
indicated resource of 21.44 Mt at 4.6 Au g/t for a total of 3.2 million ounces of gold and inferred
resource of 21.69 Mt at 3.9 Au g/t 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 f or completion in the second half of 2021. 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
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and James Bay Properties located in Québec as well as the Guerrero Properties located in Mexico.
For further information about Osisko Development Corp., please contact:
Sean Roosen, CEO
Telephone: (514) 940-0685
Email: [email protected]
Jean Francois Lemonde, VP Investors 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
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. The information in this news release about the
use of proceeds of the Offering, the timing and ability of the Corporation, if at all, to obtain final approval
of the Offering from the TSX Venture Exchange and any other information herein that is not a historical
fact may be "forward-looking statements". 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 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 concerning Osisko Development, see the Filing
Statement available electronically under Osisko Development 's issuer profile on 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-
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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 TS X 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.