OSISKO MINING CLOSES “BOUGHT DEAL” PRIVATE PLACEMENT OF FLOW THROUGH SHARES FOR ONTARIO PROPERTIES
(Toronto, December 12, 2017) – Osisko Mining Inc. (TSX:OSK) (“Osisko” or the “Corporation”) is pleased to announce, that it has completed a “bought deal” brokered private placement of an aggregate 479,550 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)) (“Flow-Through Shares”), at an issue price of $4.80 per Common Share for aggregate gross proceeds of approximately $2.3 million (the “Offering”). Canaccord Genuity Corp. acted as sole underwriter and sole bookrunner in connection with the Offering.
The gross proceeds from the sale of Flow-Through Shares will be used to fund “Canadian exploration expenses” (within the meaning of the Income Tax Act (Canada)) related to Osisko’s projects in Ontario on or prior to December 31, 2018 for renunciation to subscribers of Flow-Through Shares effective December 31, 2017.
All securities issued under the Offering will be subject to a hold period expiring four months and one day from the date hereof. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
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% in the high-grade Windfall Lake gold deposit located between Vald’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 Quevillon area (over 3,300 square kilometres), a 100% interest in the Marban project located in the heart of Québec’s prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast 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.
For further information please contact:
President and Chief Executive Officer
Telephone: (416) 363-8653