OSISKO INCREASES CREDIT FACILITY TO $350 MILLION Option to Increase to $450 Million
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OSISKO INCREASES CREDIT FACILITY TO $350 MILLION
Option to Increase to $450 Million
(Montréal, November 14, 2017) Osisko Gold Royalties Ltd (the “Company” or “Osisko”) (OR: TSX &
NYSE) is pleased to announce that it has amended its revolving credit fac ility (the “Facility”) ,
increasing the amount from $150 million to $350 million, with an additional uncommitted accordion of
up to $100 million, for a total availability of up to $450 million. The Facility is to be used for general
corporate purposes and i nvestments in the mineral industry, including the acquisition of royalties ,
streams and other interests.
National Bank of Canada continues to act as administrative agent and as lender, and the syndicate of
financial institutions includes Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of
Commerce, Royal Bank of Canada, The Toronto-Dominion Bank and Export Development Canada.
National Bank Financial Inc. acted as sole Lead Arranger and Bookrunner, and Bank of Montreal as
Documentation Agent.
Sean Roosen, Chair and Chief Executive Officer of Osisko, noted: “We are very pleased to have
National Bank of Canada and Bank of Montreal as strong financial partners and we welcome our new
lenders, as we pursue our strategic plan to provide strong returns to our shareholders and
stakeholders. The pipeline of projects from our accelerator model and our near -term cash flowing
assets provide our Company with a unique growth profile within the royalty sector.”
Elif Lévesque, Vice President Finance and Chie f Financial Officer of Osisko , noted: “The new Facility
combined with our cash position ( including our recently completed $300 million 5- year convertible
debentures) provides liquidity of up to $700 million to fund growth opportunities.”
The Facility is secured by the Company’s assets and has an initial term of four years.
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 131 royalties,
streams and precious metal offtakes. Osisko’s portfolio is anchored by five cornerstone assets, including a 5%
net smelter return royalty on the Canadian Malartic Mine, 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., 1 2.8% in Osisko
Metals Inc., 13.3% in Falco Resources Ltd. and 32.8% 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 further information please contact, please contact Osisko Gold Royalties:
Vincent Metcalfe
Vice President, Investor Relations
Tel. (514) 940-0670
Joseph de la Plante
Vice President, Corporate Development
Tel. (514) 940-0670
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Forward-looking Statements
Certain statements contained in this press release may be deemed "forward-looking statements". All statements in this
release, other than statements of historical fact, that address future events, developments or performance that Osisko
expects to occur including management’s expectat ions regarding Osisko’s growth, realization of business prospects and
opportunities and requirements for additional capital are forward looking statements. Forward looking statements are
statements that are not historical facts and are generally, but not a lways, identified by the words "expects", "plans",
"anticipates", "believes", "intends", "estimates", "projects", "potential", "scheduled" and similar expressions or variations
(including negative variations), or that events or conditions "will", "would", "may", "could" or "should" occur including, without
limitation, the performance of the assets of Osisko, the satisfaction of all conditions precedent for the drawdown on the
Facility, the realization of the anticipated benefits of the Facility including the acquisition of royalties, stream or other interest.
Although Osisko believes the expectations expressed in such forward-looking statements are based on reasonable
assumptions, such statements involve known and unknown risks, uncertainties and other factors and are not guarantees of
future performance and actual results may accordingly differ materially from those in forward looking statements. Factors that
could cause the actual results to differ materially from those in forward-looking statements include, without limitation:
fluctuations in the prices of the commodities that drive royalties held by Osisko ; fluctuations in the value of the Canadian
dollar relative to the U.S. dollar; regulatory changes in national and local government, including permitti ng and licensing
regimes and taxation policies; regulations and political or economic developments in any of the countries where properties in
which Osisko holds a royalty , stream or other interest are located or through which they are held; risks related to the
operators of the properties in which Osisko holds a royalty , stream or other interests , influence of macroeconomic
developments; business opportunities that become available to, or are pursued by Osisko; continued availability of capital
and financi ng and general economic, market or business conditions; litigation; title, permit or license disputes related to
interests on any of the properties in which Osisko holds a royalty , stream or other interest; development, permitting,
infrastructure, operatin g or technical difficulties on any of the properties in which Osisko holds a royalty , stream or other
interest; rate and timing of production differences from mineral resource estimates or production forecasts by operators of
properties in which Osisko hol ds a royalty , stream or other interest; risks and hazards associated with the business of
exploring, development and mining on any of the properties in which Osisko holds a royalty , stream or other interest,
including, but not limited to unusual or unexpected geological and metallurgical conditions, slope failures or cave-ins, flooding
and other natural disasters or civil unrest or other uninsured risks. The forward looking statements contained in this press
release are based upon assumptions management bel ieves to be reasonable, including, without limitation: the ongoing
operation of the properties in which Osisko holds a royalty , stream or other interest by the owners or operators of such
properties in a manner consistent with past practice; the accuracy of public statements and disclosures made by the owners
or operators of such underlying properties; no material adverse change in the market price of the commodities that underlie
the asset portfolio; no adverse development in respect of any significant property in which Osisko holds a royalty , stream or
other interest; the accuracy of publicly disclosed expectations for the development of underlying properties that are not yet in
production; and the absence of any other factors that could cause actions, events or results to differ from those anticipated,
estimated or intended.
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 Osisko
which is filed with the Canadian securities commissions and available electronically under Osisko's issuer profile on SEDAR
at www.sedar.com and with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov. The forward-looking
information set forth herein reflects Osisko’s expectations as at the date of this press release and is subject to change aft er
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.