Osisko Closes $300 Million Financing of Debentures
OSISKO CLOSES $300 MILLION FINANCING OF DEBENTURES
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION TO UNITED STATES
(Montréal, November 3, 2017) Osisko Gold Royalties Ltd (OR:TSX & NYSE) (the "Corporation" or
"Osisko") is pleased to announce that it has closed its previously announced "bought deal" offering of
convertible senior unsecured debentures of the Corporation (the " Debentures") in an aggregate
principal amount of C$300 million (the "Offering"). The Offering was comprised of a public offering, by
way of a short form prospectus, of C$184 million aggregate principal amount of Debentures (the "Public
Offering") and a private placement offering of C$116 million aggregate principal amount of Debentures
(the "Private Offering"), including the exercise in full of the underwriters' option.
The Debentures were sold on a "bought deal" basis through a syndicate of underwriters led by National
Bank Financial Inc., BMO Capital Markets and Desjardins Capital Markets. Osisko plans to use the net
proceeds from the Offering to fund the acquisition of precious metal royalties and streams, working
capital and general corporate purposes.
The Debentures bear interest at a rate of 4.00% per annum, payable semi -annually on June 30 and
December 31 each year, commencing on June 30, 2018. The Debentures will be convertible at the
holder's option into common shares in the capital of the Corporation (" Common Shares") at a
conversion price equal to C$22.89 per Common S hare (representing a conversion premium of
approximately 40% to the reference price of C$16.35 and a conversion rate of 43.6872 Common Shares
per C$1,000 principal amount of Debentures). The Debentures will mature on December 31, 2022 and
may be redeemed by Osisko, in certain circumstances, on or after December 31, 2020. The Debentures
will be listed and posted for trading on the T oronto Stock Exchange under the symbol "OR.DB" at the
opening of markets today.
The Debentures issued under the Public Offering were offered by way of a short form prospectus filed
with the securities regulatory authorities in each of the provinces of Canada. Copies of the final short
form prospectus and documents incorporated therein are available electronically under Osisko's issuer
profile on SEDAR at www.sedar.com. All securities issued pursuant to the Private Offering will be
subject to a statutory hold period expiring four months and one day from the closing date of the Private
Offering. The securities offered have not been and will not be registered under the U.S. Securities Act
of 1933 and may not be offered or sold in the United States absent registration or an applicable
exemption from the registration requirements of such Act. This news release shall not constitute an offer
to sell or the solicitation of an offer to buy securities in any jurisdiction.
About Osisko Gold Royalties Ltd
Osisko Gold Royalties Ltd is an intermediate precious metal royalty company focused on the Americas
that commenced activities in June 2014. Osisko holds a North American focused portfolio of over 130
royalties, streams and precious metal offtakes. Osisko's portfolio is anchored by five cornerstone assets,
including a 5% NSR royalty on the Canadian Malartic mine, which is the largest gold mine in Canada.
Osisko also owns a portfolio of publicly held resource companies, including a 15.6% interest in Osisko
Mining Inc., a 12.8% interest in Osisko Metals Incorporated, a 13.3% interest in Falco Resources Ltd.
and a 32.8% interest in Barkerville Gold Mines Ltd.
Osisko's head office is located at 1100 Avenue des Canadiens -de Montréal, Suite 300, Montréal,
Québec, H3B 2S2.
Forward-looking statements
This press release contains certain forward-looking statements with respect to Osisko. These forward-looking statements, by
their nature, require Osisko 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. In this press release, these forward-looking statements include
information about the current expectations of Osisko with respect to the receipt of regulatory approvals, including final approval
of the Toronto Stock Exchange and the New York Stock Exchange, the expected use of proceeds of the Offering, and the
Corporation's business strategy and financial condition. 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 is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or
projection, including the ability and timing of Osisko to obtain regulatory approvals, management's perceptions of historical
trends, current conditions and expected future developments, as well as other considerations that are believed to be
appropriate in the circumstances. Osisko considers its assumptions to be reasonable based on information currently available,
but cautions the reader that its assumptions regarding future events, many of which are beyond the control of Osisko, may
ultimately prove to be incorrect since they are subject to risks and uncertainti es that affect Osisko and its business. For
additional information with respect to these and other factors and assumptions underlying the forward‐looking statements made
in this press release, see the section entitled "Risk Factors" in the most recent Annual Information Form of the Corporation,
which is filed with (i) the securities regulatory authorities in Canada and available electronically under Osisko's issuer profile
on SEDAR at www.sedar.com , and (ii) the U.S. Securities and Exchange Commission and available electronically under
Osisko's issuer profile on EDGAR at www.sec.gov. The forward ‐ looking information set forth herein reflects Osisko's
expectations as at the d ate of this press release and is subject to change after such date. Osisko 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.
For further information, please contact Osisko Gold Royalties Ltd:
Vincent Metcalfe
Vice President, Investor Relations
Tel. (514) 940-0670
Joseph de la Plante
Vice President, Corporate Development
Tel. (514) 940-0670