Osisko Development announces $50M marketed private placement of units

Osisko Development (ODV) is pleased to announce that it has entered into an agreement with certain agents, pursuant to which the Lead Agents have agreed to sell, on a “best efforts” agency basis, up to 27,778,000 units of the company at a price of $1.80 per unit for aggregate gross proceeds of up to approximately $50M. The company intends to use the net proceeds of the Offering towards the advancement of its Cariboo and Tintic Projects, to partially repay its existing credit facility and for general corporate purposes. Closing of the offering is expected to take place on or about November 12.