https://www.engineeringnews.co.za

Osisko Development announces $50m offering

24th October 2024

By: Creamer Media Reporter

     

Font size: - +

NYSE- and TSX-V-listed Osisko Development has announced a new offering aimed at raising $50-million.

The company has entered into an agreement with lead agents to facilitate the sale of up to 27.78-million units at $1.80 each.

Each unit is comprised of one common share and one common share purchase warrant. The warrant provides holders the right to purchase one additional common share at a price of $3 a share, exercisable on, or before, October 1, 2029.

Osisko Development has granted the lead agents an option to sell an additional 4.17-million units at the offering price, exercisable up to 48 hours prior to the closing date.

The net proceeds from this offering will be directed towards advancing the company's Cariboo and Tintic projects, in addition to partially repaying its existing credit facility and supporting general corporate purposes.

The Cariboo project is an advanced stage, feasibility-level gold project located in central British Columbia in the historical Wells-Barkerville mining camp, while the Tintic project is in the historic East Tintic mining district of central Utah, US.

The closing of the offering is anticipated to occur on or about November 12, 2024.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 
VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.051 1.001s - 140pq - 2rq
Subscribe Now