OSISKO RELEASES 2021 SUSTAINABLE DEVELOPMENT REPORT

(Toronto, July 25, 2022) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to announce that it has published its 2021 Sustainable Development report which provides a detailed overview of the Corporation’s environmental, social, and governance performance (ESG) and economic contributions in the communities in which we operate. The report is available on the Osisko website www.osiskomining.com in English and French.

Sustainability is anchored in Osisko’s business strategy through the Health and Safety, Human Resources, Environmental, Community Relations and Responsible Procurement policies. In 2021, Osisko continued to closely monitor the COVID-19 response while moving forward to achieve our vision of being a sustainable company and an industry leader that is valued by its stakeholders. We were honored to win the 2021 Mercure award in the Desjardins Sustainable Development Strategy category for the work ensuring the safe return of our Cree workforce during the pandemic.

Osisko has maintained a safe work environment for our employees and contractors at Windfall since the exploration activities started in 2015. We continue to minimize our effect on the environment through rigorous water, waste and spill management, land reclamation and advance closure planning.

The report covers Osisko’s activities on our Windfall, Quévillon, and Urban Barry projects. It describes our ESG performance from January 1 to December 31, 2021 and provides comparative data from previous years.

 OSISKO MINING-2021-VF-EN-LR

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of gold resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,400 square kilometres).

CONTACT INFORMATION:

John Burzynski
Chief Executive Officer
Telephone (416) 363-8653

OSISKO MINING INC. FILES EARLY WARNING REPORT

 (Toronto, July 22, 2022) Osisko Mining Inc. (TSX:OSK) (the “Corporation” or “Osisko“) today announced that it has filed an early warning report in respect of Vior Inc. (“Vior””) in connection with Vior’s private placement (the “Private Placement”) offering of units. Osisko exercised its equity participation right pursuant to an Investor Rights Agreement previously entered into by Vior and the Corporation and subscribed for 1,923,000 units (“Units”) at a price of $0.13 per unit. Each Unit is comprised of one common share in the capital of Vior (a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant a “Warrant”). Each Warrant entitles Osisko to acquire one additional Common Share at an exercise price of $0.21 per Common Share for a period of 30 months from the closing date.

Following the closing of the Private Placement, Osisko will own 6,848,000 common shares and 3,424,000 warrants representing approximately 7.80% of the issued and outstanding Common Shares of Vior and 11.26% on a partially diluted basis, presuming the exercise of all warrants held by Osisko.

Osisko acquired the securities of Vior for investment purposes only and intends to review, on a continuous basis, various factors related to its investment, and may decide to purchase additional securities of Vior or may decide in the future to sell all or part of its investment.

This news release is being issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated July 22, 2022. The early warning report has been filed on the System for Electronic Document Analysis and Review (“SEDAR”) under Vior’s issuer profile at www.sedar.com. To obtain a copy of the early warning report filed by Osisko, please contact John Burzynski at (416) 363-8653 or refer to SEDAR under Vior’s issuer profile at www.sedar.com.

For further information, please contact Osisko Mining Inc.:

John Burzynski
Chief Executive Officer
Osisko Mining Inc.
155 University Avenue
Toronto, ON M5H 3B7
Telephone: (416) 363-8653

 

OSISKO MINING CORPORATE UPDATE

(Toronto, June 23, 2022) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide the following corporate updates and to announce management appointments and departures.

WINDFALL UPDATES

The Corporation recently closed its Windfall Project drillhole database, on schedule for, and in preparation of, an updated Mineral Resource Estimate (“MRE”) scheduled for Q4 2022.  The updated MRE will form the basis of the planned Windfall Project Feasibility Study (“FS”), scheduled for delivery by YE2022.  The FS will form the basis of the Corporation’s Windfall Project production decision.  Osisko plans to continue underground and surface exploration drilling, including expansion targets within the Windfall deposit;  pursuing mineralization in the Golden Bear discovery area; and testing additional high-priority targets proximal to Windfall.

Extraction of the Lynx 600 bulk sample (600 metre vertical level located in the Triple Lynx zone) is expected to be completed in early July 2022. Processing of the approximately 5,000 tonnes of material is expected to commence in Q3 2022 at a custom mill located near Timmins, Ontario.  Results of the test are expected to be released in early Q4 2022.

In Q2 2022 the Corporation applied for a certificate of authorization to extract a fourth bulk sample in Lynx 4 with the Ministère de l’Environnement et de Lutte aux les changements climatiques (“MELCC”). The authorization, anticipated to be received in Q3 2022, will permit the Corporation to advance the exploration ramp to the high-grade Lynx 4 zone.  The advance of the exploration ramp will give access to the fourth bulk sample, and will also be used to conduct a Stope School in partnership with local stakeholders.  The Stope School will provide certified training programs in ore extraction for local community trainees from the Eeeyou-Itshee James Bay area.

The Corporation has initiated work on elements of the detailed engineering for the proposed mill site and other major project components with its consultants as part of the ongoing work contributing to the FS.

As was the case in the successful on-budget and ahead of schedule construction of the Canadian Malartic Mine, Osisko intends, subject to a positive production decision and obtaining all necessary permits, to self-manage the construction of the proposed Windfall Mine.  In this regard, Osisko recently obtained its entrepreneur license from the Régie du bâtiment du Québec.

MANAGEMENT APPOINTMENTS AND DEPARTURES

Osisko is pleased to announce the appointment of Mr. Ronald Bougie as Vice-President Construction and Engineering. Mr. Bougie has over 35 years of construction and project development experience, gained through building a number of successful mining and industrial projects. Mr. Bougie played a key role as General Manager, Engineering and Construction for Osisko Mining Corporation during the development and construction of the Canadian Malartic gold mine, the largest producing gold mine in Canada and 9th largest gold producer worldwide in 2021.  Recently, Mr. Bougie was Executive Vice President, Construction and Operations for Alliance Magnesium (“Alliance”) and Vice President, Engineering and Construction for Falco Resources Inc. (“Falco”). Mr. Bougie remains technical adviser of Falco and Alliance. Prior to joining Falco, he served as Executive Vice President Engineering, Construction and Operations for the Ciment McInnis project. Mr. Bougie also previously led construction at the Renard diamond mine as General Manager, Engineering and Construction.  Mr. Bougie reports directly to the COO of the Corporation.

Osisko is also pleased to announce the appointment of Ms. Andréanne Boisvert as Vice-President Environment and Community Relations.  She has over 20 years of experience in environment and community relations positions.  Prior to joining the Osisko team, Ms. Boisvert worked at Arcelor Mittal Mining Operations, first as a compliance and environmental projects expert, then as a senior environmental program manager. She also worked with WSP (formerly Genivar), leading various mandates (direction of environmental studies, strategic studies, pre-feasibility and feasibility and negotiations with government authorities). She also coordinated economic, social and cultural monitoring studies for the Eastmain-1-A hydroelectric project, working in close collaboration with First Nation communities. Ms. Boisvert holds a bachelor’s degree in geography and environmental studies, and a master’s degree in geography. Ms. Boisvert reports directly to the President of the Corporation.

With regret, Osisko announces the departure of Ms. Alix Drapack as Chief Sustainability Officer of the Corporation.  We would like to thank Alix for her many contributions to Osisko Mining Inc., as well as acknowledge her work with the original Osisko Mining Corporation.  An Osisko veteran who has worked with both iterations of the company, Alix has played a key role in fostering strong relationships with stakeholders in the corporations, particularly on the Windfall Project with our Cree First Nation hosts and the community of Waswanipi.  She will be missed, and we wish Alix every success in her future endeavors. Ms. Drapack will continue with the Corporation as a member of the Technical Advisory Committee.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of gold resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,400 square kilometres).

 

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, 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”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” 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 statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the updated MRE on the Windfall Project scheduled for Q4 2022 (if at all); the updated MRE on the Windfall Project forming the basis for a FS scheduled for YE 2022 (if at all); the exploration plans of the Corporation; the timing and ability of the Corporation (if at all) to process additional material; the expected results of the foregoing (if at all), including timing; the adequacy of permits to be received by MELCC; the framework and parameters of any components of a FS on the Windfall Project; there being any nexus between Osisko Mining Corporation and the Corporation, including the success of Osisko Mining Corporation and the Canadian Malartic Mine being related, in any way, to the success of the Corporation or the Windfall Project; the Windfall project being a high-grade gold deposit; the prospects, if any, of the Windfall gold deposit; timing and ability of Osisko to file a technical reports in respect of the MRE or FS, if at all; the timing and ability of Osisko to build a mine; the amount and type of drilling to be completed and the timing to complete such drilling. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation 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 information. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

 

 

CONTACT INFORMATION:

John Burzynski
Chief Executive Officer
Telephone (416) 363-8653

OSISKO ANNOUNCES RESULTS OF ANNUAL MEETING OF SHAREHOLDERS

Toronto, Ontario (May 30, 2022) – Osisko Mining Inc. (TSX:OSK. “Osisko” or the “Corporation“) is pleased to announce the results of its annual meeting of shareholders (the “Meeting“) held earlier today. A total of 254,971,468 common shares of the Corporation were represented at the Meeting, representing approximately 72.66% of the total number of common shares of the Corporation issued and outstanding.

All matters presented for approval at the Meeting were duly authorized and approved, as follows:

  • PricewaterhouseCoopers LLP was appointed as the auditor of the Corporation for the ensuing year, and the board of directors of the Corporation was authorized to fix their remuneration; and
  • all of the management nominees were elected to the board of directors of the Corporation to serve for the ensuing year or until their successors are duly elected or appointed (details in table below).
Name Voted For Voted Withhold
(#) (%) (#) (%)
John Burzynski 231,314,276 97.92% 4,913,842 2.08%
José Vizquerra Benavides 225,171,439 95.31% 11,056,679 4.68%
Patrick F.N. Anderson 233,270,362 98.75% 2,957,756 1.25%
Keith McKay 235,056,829 99.50% 1,171,289 0.50%
Amy Satov 232,489,993 98.42% 3,738,125 1.58%
Bernardo Alvarez Calderon 233,657,200 98.91% 2,570,918 1.09%
Andrée St-Germain 231,493,633 98.00% 4,734,485 2.00%
Cathy Singer 234,426,633 99.24% 1,801,485 0.76 %

Further details on the above matters, including the report of voting results thereon, are available on SEDAR (www.sedar.com) under Osisko’s issuer profile.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of gold resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,500 square kilometers).

 

For further information please contact:

John Burzynski

Chief Executive Officer

Telephone (416) 363-8653

OSISKO MINING APPOINTS SIMARD VICE PRESIDENT EXPLORATION

(Toronto, January 4, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to announce that Mr. Pascal Simard has been promoted to the position of Vice-President Exploration, where he will manage all exploration activities of the corporation.

Pascal joined Osisko Mining Inc. in 2016 and most recently held the position of Director of Exploration where he contributed to the development of the company projects portfolio, including Windfall and regional exploration on Urban-Barry.  A graduate from Université du Québec à Chicoutimi with a Bachelor in geological engineering, Mr. Simard is a professional engineer with over 17 years of experience on exploration and mining projects in Canada, and is a member of the Ordre des Ingénieurs du Québec.  Prior to joining Osisko, Pascal worked with Virginia Mines and Cambior on projects in the Abitibi, James-Bay and Northern Quebec.

John Burzynski, Chief Executive Officer and Chairman of the Company stated: “We are very pleased to welcome Pascal as the new Vice-President Exploration for Osisko Mining.  We expect him to have a very busy 2022 as we move to complete feasibility work on our flagship Windfall deposit and begin to turn our attention to making new discoveries on our vast Urban Barry-Quévillon land package.”

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of gold resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,600 square kilometres).

 

 

CONTACT INFORMATION:

John Burzynski
Chief Executive Officer
Telephone (416) 363-8653

OSISKO ANNOUNCES TSX APPROVAL TO RENEW NORMAL COURSE ISSUER BID

 

(Toronto, December 30, 2021) Osisko Mining Inc. (TSX:OSK) (the “Corporation” or “Osisko“) today announces that the Toronto Stock Exchange (the “TSX”) has approved the Corporation’s notice of intention to make a normal course issuer bid (the “NCIB Program”). Under the terms of the NCIB Program, Osisko may acquire up to 28,678,891 of its common shares (“Common Shares”) from time to time in accordance with the normal course issuer bid procedures of the TSX.

 

The normal course issuer bid will be conducted through the facilities of the TSX or alternative trading systems, if eligible, and will conform to their regulations. Purchases under the normal course issuer bid will be made by means of open market transactions or such other means as a securities regulatory authority may permit, including pre-arranged crosses, exempt offers and private agreements under an issuer bid exemption order issued by a securities regulatory authority.

 

Repurchases under the NCIB Program may commence on January 2, 2022 and will terminate on January 1, 2023 or on such earlier date as the NCIB Program is complete. Daily purchases will be limited to 138,745 Common Shares, other than block purchase exemptions, representing 25% of the average daily trading volume of the Common Shares on the TSX for the six-month period ending November 30, 2021, being 554,981 Common Shares.

 

The price that the Corporation may pay for any Common Shares purchased in the open market under the NCIB Program will be the prevailing market price at the time of purchase (plus any brokerage fees) and any Common Shares purchased by the Corporation will be cancelled. In the event that the Corporation purchases Common Shares by pre-arranged crosses, exempt offers, block purchases or private agreements, the purchase price of the Common Shares may be, and will be in the case of purchases by private agreements, as may be permitted by the securities regulatory authority, at a discount to the market price of the Common Shares at the time of acquisition.

 

The board of directors of Osisko believes that the underlying value of the Corporation may not be reflected in the market price of the Common Shares from time to time and that, accordingly, the purchase of Common Shares will increase the proportionate interest in the Corporation of, and be advantageous to, all remaining shareholders of the Corporation.

 

As of December 20, 2021, there were 346,279,008 Common Shares issued and outstanding. The 28,678,891 Common Shares that may be repurchased under the NCIB Program represent approximately 10% of the public float of the Corporation as of December 20, 2021, being 286,788,917 Common Shares.

 

During the prior NCIB Program of the Corporation, which will end on January 1, 2022, the Corporation obtained approval to purchase 28,304,260 Common Shares, and actually purchased 12,892,600 Common Shares at a weighted average price of approximately $3.2076 per Common Share through the facilities of the TSX.

 

Osisko has appointed BMO Nesbitt Burns Inc. to make any purchases under the NCIB Program on its behalf.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding the Urban Barry area and nearby Quévillon area (over 2,600 square kilometres).

 

Cautionary Note Regarding Forward-Looking Information

 

This news release contains forward-looking statements. These forward-looking statements, by their nature, require the Corporation 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. 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 including the fact that the Corporation “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, statements about the board of directors of Osisko’s belief that the NCIB Program is advantageous to shareholders and that underlying value of the Corporation may not be reflected in the market price of the Common Shares, the Corporation’s intentions regarding the NCIB Program and whether the Corporation will receive the requisite acceptance of the TSX in respect of the NCIB Program. 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; fluctuations in the value of the Canadian dollar relative to the U.S. dollar; regulatory changes by national and local government, including corporate law, permitting and licensing regimes and taxation policies; continued availability of capital and financing and general economic, market or business conditions; business opportunities that become available to, or are pursued by Osisko; other uninsured risks. The forward looking statements contained in this news release are based upon assumptions management believes to be reasonable, including, without limitation: the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property interests in the Windfall gold project; the ability of the Corporation to obtain required approvals and complete transactions on terms announced; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions. Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation 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 information, 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.

 

For further information on Osisko please contact:

John Burzynski
Chairman & Chief Executive Officer
Telephone: (416) 363-8653

 

 

EARLY WARNING REPORT FOR OSISKO MINING INC.

FORM 62-103F1

EARLY WARNING REPORT

 This report updates information disclosed in a previous report filed by Osisko Mining Inc. (“Osisko”) on July 14, 2021.

Item 1 – Security and Reporting Issuer

1.1             State the designation of securities to which this report relates and the name and address of the head office of the issuer of the securities.

Issuer:

O3 Mining Inc. (“O3 Mining“)
155 University Avenue
Suite 1440
Toronto, Ontario  M5H 3B7

Securities:   This report relates to the disposition by Osisko of common shares of O3 Mining (“O3 Shares“).

O3 Mining is a corporation existing under the laws of the Province of Ontario and its common shares trade through the facilities of the TSX Venture Exchange under the trading symbol “OIII”.

1.2             State the name of the market in which the transaction or other occurrence that triggered the requirement to file this report took place.

The Disposition (as defined below) will be completed by way of a private agreement.

Item 2 – Identity of the Acquiror

2.1             State the name and address of the acquiror.

Acquiror:

Osisko Mining Inc. (“Osisko“)
155 University Avenue
Suite 1440
Toronto, Ontario  M5H 3B7

 

Osisko is a corporation existing under the laws of the Province of Ontario and its common shares trade through the facilities of the Toronto Stock Exchange under the trading symbol “OSK”. Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada.

 

2.2             State the date of the transaction or other occurrence that triggered the requirement to file this report and briefly describe the transaction or other occurrence.

On December 15, 2021, Osisko entered into a purchase agreement with an arm’s length third party pursuant to which Osisko agreed to dispose of an aggregate of 2,500,000 O3 Shares at a price of $2.00 per O3 Share for aggregate consideration of $5,000,000 (the “Disposition”). The Disposition is expected to close prior to the end of December 2021. The Disposition triggered the requirement to file this report under National Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 61-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

 

2.3             State the names of any joint actors.

None.

Item 3 – Interest in Securities of the Reporting Issuer

3.1             State the designation and number or principal amount of securities acquired or disposed of that triggered the requirement to file the report and the change in the acquiror’s securityholding percentage in the class of securities.

Immediately prior to giving effect to the Disposition, Osisko had beneficial ownership of, or control and direction over, 18,361,298 O3 Shares, representing approximately 26.9% of the number of issued and outstanding O3 Shares (being 68,160,439 common shares).

Immediately after giving effect to the Disposition, Osisko had beneficial ownership of, or control and direction over, 15,861,298 O3 Shares, representing approximately 23.3% of the issued and outstanding O3 Shares on a basic basis (based on there being 68,160,439 O3 Shares issued and outstanding as of the date hereof).

3.2             State whether the acquiror acquired or disposed ownership of, or acquired or ceased to have control over, the securities that triggered the requirement to file the report.

Osisko disposed of 2,500,000 O3 Shares referred to in this report.

3.3             If the transaction involved a securities lending arrangement, state that fact.

Not applicable.

3.4             State the designation and number or principal amount of securities and the acquiror’s securityholding percentage in the class of securities, immediately before and after the transaction or other occurrence that triggered the requirement to file this report.

See Item 3.1 above.

3.5             State the designation and number or principal amount of securities and the acquiror’s securityholding percentage in the class of securities referred to in Item 3.4 over which

(a)             the acquiror, either alone or together with any joint actors, has ownership and control,

Osisko owns and controls the 15,861,298 O3 Shares referred to in Item 3.1, representing approximately 23.3% of the issued and outstanding O3 Shares.

(b)             the acquiror, either alone or together with any joint actors, has ownership but control is held by persons or companies other than the acquiror or any joint actor, and

Not applicable.

(c)              the acquiror, either alone or together with any joint actors, has exclusive or shared control but does not have ownership.

Not applicable.

3.6             If the acquiror or any of its joint actors has an interest in, or right or obligation associated with, a related financial instrument involving a security of the class of securities in respect of which disclosure is required under this item, describe the material terms of the related financial instrument and its impact on the acquiror’s securityholdings.

Not applicable.

3.7             If the acquiror or any of its joint actors is a party to a securities lending arrangement involving a security of the class of securities in respect of which disclosure is required under this item, describe the material terms of the arrangement including the duration of the arrangement, the number or principal amount of securities involved and any right to recall the securities or identical securities that have been transferred or lent under the arrangement.

Not applicable.

State if the securities lending arrangement is subject to the exception provided in section 5.7 of NI 62-104.

Not applicable.

3.8             If the acquiror or any of its joint actors is a party to an agreement, arrangement or understanding that has the effect of altering, directly or indirectly, the acquiror’s economic exposure to the security of the class of securities to which this report relates, describe the material terms of the agreement, arrangement or understanding.

Not applicable.

Item 4 – Consideration Paid

4.1             State the value, in Canadian dollars, of any consideration paid or received per security and in total.

See Item 2.2 above.

4.2             In the case of a transaction or other occurrence that did not take place on a stock exchange or other market that represents a published market for the securities, including an issuance from treasury, disclose the nature and value, in Canadian dollars, of the consideration paid or received by the acquiror.

See Item 2.2 above.

4.3             If the securities were acquired or disposed of other than by purchase or sale, describe the method of acquisition or disposition.

Not applicable.

Item 5 – Purpose of the Transaction

State the purpose or purposes of the acquiror and any joint actors for the acquisition or disposition of securities of the reporting issuer. Describe any plans or future intentions which the acquiror and any joint actors may have which relate to or would result in any of the following: (a) the acquisition of additional securities of the reporting issuer, or the disposition of securities of the reporting issuer; (b) a corporate transaction, such as a merger, reorganization or liquidation, involving the reporting issuer or any of its subsidiaries; (c) a sale or transfer of a material amount of the assets of the reporting issuer or any of its subsidiaries;(d) a change in the board of directors or management of the reporting issuer, including any plans or intentions to change the number or term of directors or to fill any existing vacancy on the board; (e) a material change in the present capitalization or dividend policy of the reporting issuer; (f) a material change in the reporting issuer’s business or corporate structure; (g) a change in the reporting issuer’s charter, bylaws or similar instruments or another action which might impede the acquisition of control of the reporting issuer by any person or company; (h) a class of securities of the reporting issuer being delisted from, or ceasing to be authorized to be quoted on, a marketplace; (i) the issuer ceasing to be a reporting issuer in any jurisdiction of Canada; (j) a solicitation of proxies from securityholders; (k) an action similar to any of those enumerated above.

The O3 Shares were disposed of in order to monetize a portion of its investment in O3 Mining. Osisko intends to review, on a continuous basis, various factors related to its investment in O3 Mining, and may decide to purchase or dispose of additional securities of O3 Mining as future circumstances may dictate.

Item 6 – Agreements, Arrangements, Commitments or Understandings With Respect to Securities of the Reporting Issuer

Describe the material terms of any agreements, arrangements, commitments or understandings between the acquiror and a joint actor and among those persons and any person with respect to securities of the class of securities to which this report relates, including but not limited to the transfer or the voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, guarantees of profits, division of profits or loss, or the giving or withholding of proxies. Include such information for any of the securities that are pledged or otherwise subject to a contingency, the occurrence of which would give another person voting power or investment power over such securities, except that disclosure of standard default and similar provisions contained in loan agreements need not be included.

Not applicable.

Item 7 – Change in material fact

If applicable, describe any change in a material fact set out in a previous report filed by the acquiror under the early warning requirements or Part 4 in respect of the reporting issuer’s securities.

Not applicable.

Item 8 – Exemption

If the acquiror relies on an exemption from requirements in securities legislation applicable to formal bids for the transaction, state the exemption being relied on and describe the facts supporting that reliance.

Not applicable.

Item 9 – Certification

The acquiror must certify that the information is true and complete in every respect. In the case of an agent, the certification is based on the agent’s best knowledge, information and belief but the acquiror is still responsible for ensuring that the information filed by the agent is true and complete.

This report must be signed by each person on whose behalf the report is filed or his authorized representative.

It is an offence to submit information that, in a material respect and at the time and in the light of the circumstances in which it is submitted, is misleading or untrue.

Certificate

I, as the President and Chief Executive Officer of Osisko, certify on behalf of Osisko, to the best of my knowledge, information and belief, that the statements made in this report are true and complete in every respect.

Date:                December 15, 2021

Signature:         (signed) “John F. Burzynski”
Chief Executive Officer, Osisko

Name/Title:      John F. Burzynski / Chief Executive Officer, Osisko

OSISKO MINING INC. FILES EARLY WARNING REPORT IN RESPECT OF O3 MINING INC.

Toronto, Ontario (December 15, 2021) – Osisko Mining Inc. (TSX:OSK) (the “Corporation“) announces that it has filed an early warning report in respect of its holdings in O3 Mining Inc. (“O3 Mining“). On December 15, 2021, the Corporation entered into a purchase agreement with an arm’s length third party pursuant to which the Corporation agreed to dispose of an aggregate of 2,500,000 common shares of O3 Mining (the “O3 Shares“) at a price of $2.00 per O3 Share for aggregate consideration of $5,000,000 (the “Disposition“). The Disposition is expected to close prior to the end of December 2021.

Immediately prior to giving effect to the Disposition, the Corporation had beneficial ownership of, or control and direction over, 18,361,298 O3 Shares, representing approximately 26.9% of the number of issued and outstanding O3 Shares (being 68,160,439 O3 Shares). Immediately after giving effect to the Disposition, the Corporation had beneficial ownership of, or control and direction over, 15,861,298 O3 Shares, representing approximately 23.3% of the issued and outstanding O3 Shares on a basic basis (based on there being 68,160,439 O3 Shares issued and outstanding as of the date hereof).

The Corporation disposed of such 2,500,000 O3 Shares in order to monetize a portion of its investment in O3 Mining. The Corporation intends to review, on a continuous basis, various factors related to its investment in O3 Mining, and may decide to purchase or dispose of additional securities of O3 Mining as future circumstances may dictate.

This news release is being issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated December 15, 2021. The early warning report respecting the Disposition has been filed on SEDAR (www.sedar.com) under O3 Mining’s issuer profile. To obtain a copy of the early warning report filed by the Corporation, please contact John Burzynski at (416) 363-8653 or refer to SEDAR (www.sedar.com) under O3 Mining’s issuer profile.

 

For further information on the Corporation please contact:

John Burzynski
Chief Executive Officer
Telephone: (416) 363-8653

The Corporation’s head office is located at 155 University Avenue, Suite 1440, Toronto, Ontario M5H 3B7.

OSISKO MINING INC. ANNOUNCES SIX-MONTH EXTENSION OF WARRANTS ISSUED ON JUNE 23, 2020

Toronto, Ontario (December 13, 2021) – Osisko Mining Inc. (TSX:OSK) (the “Corporation“) is pleased to announce that it has received conditional approval of the Toronto Stock Exchange to extend the expiry date of the common share purchase warrants of the Corporation (the “Warrants“) originally issued pursuant to a private placement of units of the Corporation, which closed on June 23, 2020 (the “Offering“).  The Warrants are exercisable for common shares of the Company (“Common Shares“) at a price of $5.25 per Common Share and are set to expire on December 23, 2021.  The Company has extended the expiry date of such Warrants by an additional six months to June 23, 2022, with such extension being effective on December 29, 2021 (the “Effective Date“). All other terms of the Warrants, including the exercise price, will remain the same. No exercises of the Warrants will be accepted by the Corporation from the date hereof until the Effective Date.  Under the Offering 24,250,000 Warrants were issued, but the extension applies only to 22,099,400 Warrants, as the extension does not apply to 2,150,600 Warrants issued to insiders of the Corporation.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding the Urban Barry area and nearby Quévillon area (over 2,600 square kilometres).

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, statements with respect to the extension of the term of the Warrants. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, include the inability to obtain regulatory approvals required in relation to the extension of the term of the Warrants. Although Osisko believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Osisko disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

For further information on the Corporation please contact:

John Burzynski
Chairman & Chief Executive Officer
Telephone: (416) 363-8653

OSISKO MINING INC. FILES EARLY WARNING REPORT

IN RESPECT OF O3 MINING INC.

Toronto, Ontario (July 14, 2021) – Osisko Mining Inc. (TSX:OSK) (the “Corporation“) announces that it has filed an early warning report in respect of its holdings in O3 Mining Inc. (“O3 Mining“). After giving effect to four trades ending on July 13, 2021, which settled through the facilities of the TSX Venture Exchange, the Corporation acquired an aggregate of 83,400 common shares of O3 Mining (“O3 Shares“), representing approximately 0.12% of the issued and outstanding O3 Shares, for aggregate gross proceeds of $185,309.72 (collectively, the “Acquisitions“).

At the time of the prior early warning report filed by the Corporation in respect of O3 Mining on August 17, 2020 (the “Prior Report“), the Corporation had beneficial ownership of, or control and direction over, 18,277,898 O3 Shares, representing approximately 30.3% of the issued and outstanding O3 Shares on a basic basis (based on there being 60,296,508 O3 Shares issued and outstanding as of the date of the Prior Report).

Since the date of the Prior Report and prior to giving effect to the Acquisitions, O3 Mining issued an aggregate of 7,743,758 O3 Shares, which through no action on the part of the Corporation, resulted in the Corporation’s ownership in O3 Shares being diluted to approximately 26.9% of the issued and outstanding O3 Shares on a basic basis (based on there being 68,040,266 O3 Shares issued and outstanding as of the date hereof and Osisko holding 18,277,898 O3 Shares (as disclosed in the Prior Report)).

Immediately after giving effect to the Acquisitions, Osisko had beneficial ownership of, or control and direction over, 18,361,298 O3 Shares, representing approximately 27.0% of the issued and outstanding O3 Shares on a basic basis (based on there being 68,040,266 O3 Shares issued and outstanding as of the date hereof).

The Corporation acquired the O3 Shares for investment purposes. The Corporation intends to review, on a continuous basis, various factors related to its investment in O3 Mining, and may decide to acquire or dispose of additional securities of O3 Mining as future circumstances may dictate.

This news release is being issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated July 14, 2021. The early warning report respecting the Acquisitions has been filed on SEDAR (www.sedar.com) under O3 Mining’s issuer profile. To obtain a copy of the early warning report filed by the Corporation, please contact John Burzynski at (416) 363-8653 or refer to SEDAR (www.sedar.com) under O3 Mining’s issuer profile.

 

For further information on the Corporation please contact:

John Burzynski
President & Chief Executive Officer
Telephone: (416) 363-8653

The Corporation’s head office is located at 155 University Avenue, Suite 1440, Toronto, Ontario M5H 3B7.