Osisko Mining Boosts Private Placement To $80-Million
Mr. John Burzynski reports
Osisko Mining Announces $30 Million Increase To Previously Announced Bought Deal Private Placement
Osisko Mining Inc. has amended its agreement with Canaccord Genuity Corp., on behalf of a syndicate of underwriters, in relation to its previously announced two-tranche bought deal private placement of 7,402,000 common shares of the corporation that will qualify as flow-through shares (within the meaning of Subsection 66 (15) of the Income Tax Act (Canada)) for aggregate gross proceeds of $50,008,950. The offering has been amended to include an additional 7,143,000 common shares of the corporation at a price of $4.20 per common share for additional gross proceeds of $30,000,600. The terms of the previously announced two-tranche private placement financing of flow-through shares remain unchanged.
In addition, the underwriters will have the option, exercisable in whole or in part at any time prior to the closing of the offering, to increase the size of the offering of the common shares by up to an additional 1,071,450 common shares.
The offering is expected to close on or about Oct. 5, 2017, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities. The offering is being made by way of private placement in Canada. The securities will not be offered or sold in the United States. The securities issued under the offering will be subject to a hold period expiring four months and one day from the closing date of the offering.
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-per-cent interest in the high-grade Windfall Lake gold deposit located between Val dOr and Chibougamau in Quebec and holds a 100-per-cent undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quevillon area (over 3,300 square kilometres), a 100-per-cent interest in the Marban project located in the heart of Quebecs prolific Abitibi gold mining district, and properties in the Larder Lake mining division in Northeastern Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past-producing mine, and the Gold Pike mine property. The corporation also holds interests and options in a number of additional properties in Northern Quebec and Ontario. Osisko continues to be well financed with approximately $190-million in cash and investments.