Osisko Metals closes $28.745M financing


(Montréal, Québec – July 18, 2017) Osisko Metals Incorporated (the “Company” or “Osisko Metals”) (TSX-V:OM; FRANKFURT: 0B5) (formerly Bowmore Exploration Ltd.) is pleased to announce that it has closed its previously announced “bought deal” private placement of 21,562,500 units of the Company (“Units”), including the full exercise of the underwriters’ option, at a price of $0.80 per Unit for gross proceeds of $17,250,000 (the “Brokered Offering”). The Brokered Offering was led by Canaccord Genuity Corp. on behalf of a syndicate of underwriters including National Bank Financial Inc., BMO Nesbitt Burns Inc., Cormark Securities Inc., and Haywood Securities Inc. Each Unit consists of one common share of the Company (a “Unit Share”) and one half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to acquire one common share of the Company (a “Warrant Share”) at a price of $1.00 at any time prior July 18, 2019.

Concurrent with the Brokered Offering, the Company closed a non-brokered private placement of 3,883,333 flow-through shares of the Company at a price of $0.90 per share and 10,000,000 units having the same characteristics as the Units at a price of $0.80 per unit for total additional gross proceeds of $11,495,000 (the “Non-Brokered Offering” together with the Brokered Offering, the “Offerings”). Unless the context requires otherwise, all references in this press release to Units include units sold pursuant to the Non-Brokered Offering.

In connection with the Brokered Offering, the Company paid the underwriters a cash commission in an amount equal to 5% of the gross proceeds of the Brokered Offering.
All securities issued pursuant to the Offerings are subject to a four month hold period which will expire November 19, 2017. The Offerings are subject to final acceptance of the TSX Venture Exchange.

An amount equal to the net proceeds from the sale of Units pursuant to the Offerings will be used by the Company for exploration activities and general working capital purposes. An amount equal to the gross proceeds from the sale of flow-through shares pursuant to the Non-Brokered Offering will be used to incur eligible exploration expenses.

About Osisko Metals

Osisko Metals is a Canadian base metal exploration and development company creating value in the zinc space in Canada. In 2017, the Company acquired over 40,000 hectares in the Bathurst Mining Camp (“BMC”), a major historical zinc-lead-silver producing district. The objective is to develop a multi-deposit asset base in the BMC that would feed a central concentrator. In Québec, the Company acquired 42,000 hectares that cover 12 grass-root zinc properties that will be selectively advanced. In parallel, Osisko Metals will be monitoring several zinc-oriented peers for other opportunities. Osisko Gold Royalties Ltd. (OR:TSX / NYSE) is a significant shareholder of the Company.

For further information on Osisko Metals, visit www.osiskometals.com or contact:
Jeff Hussey
President & CEO
Osisko Metals Incorporated
(514) 861-4441
Email: info@osiskometals.com

Paul Dumas
Executive Vice President & CFO
Osisko Metals Incorporated (514) 861-4441
Email: pdumas@osiskometals.com