Independent Proxy Advisory Firms Glass Lewis and Iss Recommend That Osisko Shareholders Vote FOR the Proposed Acquisition of the Orion MINE Finance Royalty Portfolio
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INDEPENDENT PROXY ADVISORY FIRMS GLASS LEWIS AND ISS RECOMMEND THAT
OSISKO SHAREHOLDERS VOTE FOR THE PROPOSED ACQUISITION
OF THE ORION MINE FINANCE ROYALTY PORTFOLIO
Montréal, Québec, July 18, 2017 – Osisko Gold Royalties Ltd (TSX & NYSE: OR) (“Osisko” or the
“Company”) is pleased to announce that Glass Lewis and Co. ("Glass Lewis") and Institutional
Shareholder Services Inc. (“ISS”), two leading i ndependent proxy advisory firms that provide voting
recommendations to institutional investors, have recommended that shareholders of Osisko vote
IN FAVOUR of the proposed acquisition of the Orion Mine Finance royalty portfolio dated June 5,
2017 (“Transaction”).
Sean Roosen, Chair of the Board and Chief Executive Office of Osisko noted “We are pleased to
receive the positive endorsement for our transformational transaction to acquire the 74 royalty, metals
stream, and offtake agreement assets from Ori on Mine Finance. We believe this transaction
complements our current portfolio extremely well and provides our shareholders with increasing near-
term cash flows.”
Glass Lewis stated the Transaction to be “based on sound rationale”. In reaching its conclusion, Glass
Lewis commented that the Transaction “would provide the Company with significantly greater size,
scale and mineral diversification, which in turn could enhance the Company’s competitive position and
access to capital” and as such recommended that Osisko shareholders vote FOR the share issuance
resolution associated with the Transaction.1
ISS has also recommended that Osisko shareholders vote FOR the share issuance resolution
associated with the Transaction for a number of reasons, including the fact “the proposed transaction
makes strategic sense as shareholders might benefit from upside potential of the large royalty
package with different advancement levels that maintains the Company's precious metals focus and
diversifies the Company's portfolio while keeping low geopolitical risk. Moreover, the proposed
transaction is expected to be immediately accretiv e to the Company's cash flow per share and to
double the Company's near-term cash flow.”1
We encourage all Osisko shareholders to read the management information circular with respect to
the Transaction, which was filed on Osisko’s issuer profiles on SEDAR and EDGAR on June 30, 2017.
The management information circular is available on SEDAR at www.sedar.com and on EDGAR at
www.sec.gov and contains a detailed description of the Transaction.
Osisko’s Board of Directors and Management UNANIMOUSLY recommend that Shareholders
vote FOR the share issuance resolution associated with of the Transaction.
1Permission to quote from the ISS’ and Glass Lewis’ reports was neither sought nor obtained.
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HOW TO VOTE
Due to essence of time, shareholders are encouraged to vote today using the internet,
telephone or facsimile.
Registered shareholders of Osisko
Registered shareholders may vote by:
Internet: www.cstvotemyproxy.com
Telephone: 1-888-489-7352 (North American Toll Free)
Facsimile: 1-866-781-3111 (North American Toll Free) or 416-368-2502 (outside North
America)
Mail: CST Trust Company, P.O. Box 721, Agincourt, ON M1S 0A1
Attending the meeting in person: 1 Place Ville Marie, Suite 4000, Montréal, Québec
Non-registered shareholders of Osisko
Shareholders who hold shares of Osisko through a bank or other intermediary will have different
voting instructions. In most cases, non-registered shareholders will receive a voting instruction form as
part of the meeting materials. Non-registered shareholders are encouraged to carefully follow the
instructions found therein, on how to submit their votes.
SHAREHOLDERS QUESTIONS
Shareholders of Osisko who have questions regardi ng the Transaction or require assistance with
voting may contact Laurel Hill Advisory Group, the proxy solicitation agent, by telephone or email as
set forth below.
Laurel Hill Advisory Group
By telephone (North American Toll Free) at: 1-877-452-7184
By telephone (Collect Outside North America) at: +1-416-304-0211
By email at: [email protected]
About Osisko
Osisko Gold Royalties Ltd is an intermediate precious metal royalty company focused on the Americas
that commenced activities in June 2014. Prior to the Transaction announced on June 5, 2017, it held
over 50 royalties and one stream, including a 5% NSR royalty on the Canadian Malartic Mine
(Canada), a 2.0% to 3.5% sliding scale NSR royalty on the Éléonore Mine (Canada) and a silver
stream on the Gibraltar mine (Canada). It maintains a strong financial position with cash resources of
C$423.6 million at March 31, 2017 and has distributed C$39.4 million in dividends to its shareholders
during the past eleven consecutive quarters. Osisko also owns a portfolio of publicly held resource
companies, including a 15.3% interest in Osisko Mining Inc., 13.3% in Falco Resources Ltd. and
33.4% in Barkerville Gold Mines Ltd.
Osisko’s head office is located at 1100 Avenue des Canadiens-de-Montréal, Suite 300, Montréal,
Québec, H3B 2S2. For more information, visit www.osiskogr.com.
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For further information please contact, Osisko Gold Royalties:
Vincent Metcalfe
Vice President, Investor Relations
Tel. (514) 940-0670
Cautionary Note Regarding Forward-Looking Information
Certain statements contained in this press release may be considered "forward-looking statements" or "forward-
looking information" within the meaning of applicable Canadian and U.S. securities laws. Any statement that
involves discussions with respect to predictions, expe ctations, interpretations, beliefs, plans, projections,
objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or
"does not expect", "is expected", "int erpreted", "management's view", "antic ipates" or "does not anticipate",
"plans", "budget", "scheduled", "forecasts ", "estimates", "believes" or "intend s" or variations of such words and
phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to
occur or be achieved) are not statem ents of historical fact and may be forward-looking information and are
intended to identify forward-looking information. This forward-looking information is based on reasonable
assumptions and estimates of management of the Compan y, at the time it was made, involves known and
unknown risks, uncertainties and other factors wh ich may cause the actual results, performance or
achievements of Osisko to be materially different from any future results, performance or achievements
expressed or implied by such forward-looking informati on. Although the forward-looking information contained in
this news release is based upon what management be lieves, or believed at the time, to be reasonable
assumptions, Osisko cannot assure shareholders and pros pective purchasers of securities of the Company that
actual results will be consistent with such forward-looking information, as there may be other factors that cause
results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes
responsibility for the accuracy and completeness of any such forward-looking inform ation. Osisko does not
undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-
looking information contained herein to reflect new events or circumstances, except as may be required by law.”