Financing ·
Osisko Gold closes US$30M equity investment by issuing 9.55M shares at US$3.14
ODVOsisko Gold Group Inc.
Osisko Gold Group closed a previously announced strategic equity investment from Urion Investments Holdings Limited, an affiliate of Trafigura Canada Limited. The company issued 9,554,141 common shares at US$3.14 per share, generating gross proceeds of approximately US$30 million. This price represented a 10% premium to the five-day volume-weighted average price on the TSX Venture Exchange prior to signing. Urion will hold approximately 3.0% of outstanding shares and entered into a voting support agreement with customary standstill and lock-up provisions. Net proceeds are intended for the development of the Cariboo Gold Project, which is currently under construction in British Columbia. Negotiations for a potential US$120 million prepayment facility remain ongoing. Osisko Gold Group Inc. is a North American gold development company focused on past-producing mining camps with district-scale potential.