Osisko Development Secures $24.2M in First Tranche of Private Placement

The funds will be used to advance the Cariboo and Tintic Gold Projects, with a second tranche expected in early October.

Osisko Development Corp. successfully closed the first tranche of its non-brokered private placement, raising approximately $24.2 million.
The company issued 13,426,589 units at a price of $1.80 per unit, each consisting of one common share and one share purchase warrant.
The warrants allow holders to purchase additional shares at $3.00 each until October 1, 2029.
Insiders, including all directors, purchased 1,056,555 units, qualifying the transaction as a 'related party transaction' under MI 61-101.
Proceeds from the placement will be used for the Cariboo Gold Project, Tintic Project, and general corporate purposes.