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Osisko Mining closes $70 Million placement of Flow-Through Shares

Feb 16, 2021

Osisko Mining Inc. has announced the completion of its previously-announced "bought deal" brokered private placement of an aggregate of 13,085,000 "flow-through shares" of the corporation, at an issue price of $5.35 per Flow-Through Share for aggregate gross proceeds of approximately $70 million, including the exercise in full of the underwriters' option.

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 2,700 square kilometres).

The Offering was led by Canaccord Genuity Corp., on behalf of itself and a syndicate of underwriters that included Eight Capital, BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., Beacon Securities Limited, Cormark Securities Inc., Haywood Securities Inc., Industrial Alliance Securities Inc. and RBC Dominion Securities Inc.

The gross proceeds from the sale of Flow-Through Shares will be used by the Corporation to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining expenditures" (within the meaning of Income Tax Act (Canada)) related to the Corporation's projects in Québec on or prior to December 31, 2022 for renunciation to subscribers of Flow-Through Shares effective December 31, 2021.



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