/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Feb. 6, 2023
/CNW/ - Osisko Mining Inc. (TSX: OSK) ("Osisko" or the
"Corporation") is pleased to announce that it has entered into an
agreement with Canaccord Genuity Corp. on behalf of a syndicate of
underwriters (collectively, the "Underwriters"), pursuant to which
the Underwriters have agreed to purchase, on a "bought deal"
private placement basis, 24,195,000 units of the Corporation (each,
a "Unit") at a price of C$3.10 per
Unit (the "Offering Price") for gross proceeds of C$75,004,500 (the "Underwritten Offering").
Each Unit will consist of one common share of the Corporation
(each, a "Unit Share") and one-half of one common share purchase
warrant of the Corporation (each whole common share purchase
warrant, a "Warrant"). Each Warrant will entitle the holder to
acquire one common share of the Corporation for 18 months from the
closing of the Offering at a price of C$4.00.
The Corporation has also granted the Underwriters an option to
purchase up to an additional 8,065,000 Units at the Offering Price
for additional gross proceeds of up to C$25,001,500 exercisable at any time up to 48
hours prior to the closing of the Offering (the "Underwriters'
Option").
The net proceeds received from the Offering will be used to
advance the Corporation's Windfall Project, as well as for working
capital and general corporate purposes.
It is anticipated that closing of the Offering will occur on or
about February 28, 2023, or such
other date or dates as the Corporation and the Underwriters may
agree. The Offering is subject to the satisfaction of certain
conditions, including receipt of all applicable regulatory
approvals including the approval of the Toronto Stock Exchange. The
securities sold under the Offering will have a hold period in
Canada of four months and one day
from the closing date in accordance with applicable securities
laws.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of any
of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful, including any of the
securities in the United States of
America. The securities have not been and will not be
registered under the United States Securities Act of 1933,
as amended (the "1933 Act") or any state securities laws and may
not be offered or sold within the United
States or to, or for account or benefit of, U.S. Persons (as
defined in Regulation S under the 1933 Act) unless registered under
the 1933 Act and applicable state securities laws, or an exemption
from such registration requirements is available.
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% interest in the high-grade Windfall gold
deposit located between Val-d'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 Quévillon area (over 2,400 square kilometres).
Cautionary Note Regarding
Forward-Looking Information
This news release contains "forward-looking information"
within the meaning of the applicable Canadian securities
legislation that is based on expectations, estimates, projections
and interpretations as at the date of this news release. The
information in this news release about the closing of the Offering;
the use of proceeds of the Offering; the exercise of the
Underwriters' Option; the approval of the Toronto Stock Exchange
relating to the Offering; and any other information herein that is
not a historical fact may be "forward-looking information". Any
statement that involves discussions with respect to predictions,
expectations, interpretations, beliefs, plans, projections,
objectives, assumptions, future events or performance (often but
not always using phrases such as "expects", or "does not expect",
"is expected", "interpreted", "management's view", "anticipates" or
"does not anticipate", "plans", "budget", "scheduled", "forecasts",
"estimates", "believes" or "intends" or variations of such words
and phrases or stating that certain actions, events or results
"may" or "could", "would", "might" or "will" be taken to occur or
be achieved) are not statements of historical fact and may be
forward-looking information and are intended to identify forward-
looking information. This forward-looking information is based on
reasonable assumptions and estimates of management of the
Corporation at the time such assumptions and estimates were made,
and involves known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of Osisko to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking information. Such factors include, among others,
risks relating to capital markets; the ability of exploration
activities (including drill results) to accurately predict
mineralization; errors in management's geological modelling; the
ability of Osisko to complete further exploration activities,
including drilling; property interests in the Windfall Lake gold
project; the ability of the Corporation to obtain required
approvals and complete transactions on terms announced; the results
of exploration activities; risks relating to mining activities; the
global economic climate; metal prices; dilution; environmental
risks; and community and non-governmental actions. Although the
forward-looking information contained in this news release is based
upon what management believes, or believed at the time, to be
reasonable assumptions. Osisko cannot assure shareholders and
prospective purchasers of securities of the Corporation that actual
results will be consistent with such forward-looking information,
as there may be other factors that cause results not to be as
anticipated, estimated or intended, and neither Osisko nor any
other person assumes responsibility for the accuracy and
completeness of any such forward-looking information, Osisko does
not undertake, and assumes no obligation, to update or revise any
such forward-looking statements or forward-looking information
contained herein to reflect new events or circumstances, except as
may be required by law.
SOURCE Osisko Mining Inc.