Osisko Increases Previously Announced Bought Deal of Convertible Senior Unsecured Debentures to C$284 Million
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OSISKO INCREASES PREVIOUSLY ANNOUNCED BOUGHT DEAL OF
CONVERTIBLE SENIOR UNSECURED DEBENTURES TO C$284 MILLION
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION TO THE UNITED STATES
(Montréal, October 17, 2017) Osisko Gold Royalties Ltd (the “Company” or “Osisko”) (OR: TSX &
NYSE) is pleased to announce that it has amended the terms of its previously announced bought deal
financing.
Under the terms of the upsized offering, a syndicate of underwriters, co-led by National Bank Financial
Inc., BMO Capital Markets and Desjardins Capital Markets (the “ Underwriters”), ha s agreed to
purchase, on a bought deal basis, convertible senior unsecured debentures (the “ Debentures”) of
Osisko in an a ggregate principal amount of C$284 million (the “ Upsized Offering ”). The Upsized
Offering will be comprised of C$184 million public offering of Debentures (the “Public Offering”) and a
C$100 million private placement of Debentures (the “Private Offering”).
In connection with the Upsized Offering, PSP Investments has committed to purchase C$100 million of
Debentures through the Private Offering on the same terms and conditions as the Public Offering. The
Underwriters have been granted an option, exercisable in whole or in part at any time up to 48 hours
prior to the closing of the Private Offeri ng, to increase the size of the Private Offering by up to an
additional C$16 million.
The Debentures will 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 Osisko common shares at a conversion price of C$22.89 per share (representing a
conversion premium of approximately 40% to the reference price of C$16.35 and a conversion rate of
43.6872 Osisko 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 net proceeds from the Upsized Offering will be used to fund the acquisition of precious metal
royalties and streams, working capital, and general corporate purposes.
A preliminary short form prospectus qual ifying the distribution of the D ebentures offered through the
Public Offering will be filed with securities regul atory authorities in all of the provinces of Canada. The
Upsized Offering is subject to customary regulatory and stock exchange approvals, with closing
expected to occur on or about November 3, 2017.
The securities to be 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 PSP Investments
The Public Sector Pension Investment Board (PSP Investments) is one of Canada's largest pension
investment managers with C$135.6 billion of net assets under manag ement as of March 31, 2017. It
manages a diversified global portfolio composed of investments in public financial markets, private
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equity, real estate, infrastructure, natural resources and private debt. Established in 1999, PSP
Investments manages net con tributions to the pension funds of the federal Public Service, the
Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in
Ottawa, PSP Investments has its principal business office in Montréal and offices in New York and
London. For more information, visit www.investpsp.com or follow us on Twitter @InvestPSP.
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 15.7% 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
Certain statements contained in this press release may be deemed “forward‐looking statements” within the meaning of
applicable Canadian and U.S. securities laws. 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. These forward‐looking statements, may involve, but are not limited to, comments with respect to the directors and
officers of Osisko. 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 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 their 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 uncertainties 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 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 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 date 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, 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