Osisko Development Provides Update ON Previously- Announced Non-Brokered Private Placement
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
OSISKO DEVELOPMENT PROVIDES UPDATE ON PREVIOUSLY-
ANNOUNCED NON-BROKERED PRIVATE PLACEMENT
Montréal, March 21 , 2022 – Osisko Development Corp. (" Osisko Development " or the
"Corporation") (ODV: TSX-V) is pleased to announce that it expects to close the second (and
final) tranche of its previously -announced non- brokered private placement of subscr iption
receipts ("Subscription Receipts") on March 29, 2022.
As previously announced, the first tranche of the Corporation's non-brokered private placement
closed on March 4, 2022, for gross proceeds of approximately US$84.8 million.
The Corporation has increased the size of the second (and final) tranche of the offering by up to
an additional US$10 million of Subscription Receipts to accommodate increased demand to
invest in Osisko Development. To that end, the second (and final) tranche of the Corporati on's
non-brokered private placement is expected to close on March 29, 2022, pursuant to which up
to an additional US$35.5 million of Subscription Receipts may be issued.
The Corporation intends to use the net proceeds of the offering to advance the development of
the Corporation's mineral assets and for general corporate purposes. All securities issued under
the offering will be subject to a hold period expiring four months and one day from the date of
issue. The offering remains subject to regulatory approvals, including conditional listing approval
of the TSX Venture Exchange and, completing the listing of the Corporation’s common shares
on the New York Stock Exchange in order to satisfy the escrow release conditions required for
the conversion of the Subscription Receipts.
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
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 compl etion 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.
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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 ability to close the offering on all subscriptions
received; 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 time and on the 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
New York Stock Exchange, meet the minimum listing requirements of the New York Stock
Exchange and satisfy the escrow release conditions required for the conversion of the
Subscription R eceipts (if at all), the timing and ability of Osisko Development to obt ain 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.
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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 dated Nov ember 20, 2020, which is 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-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.