On June 16, 2022, Osisko Metals Incorporated completed a bought deal brokered private placement offering of an aggregate of (i) 4,600,000 common shares that qualify as flow-through shares at an issue price of $0.50 per share, and (ii) 19,166,667 units at an issue price of $0.54 per unit, for aggregate gross proceeds of approximately $12.7 million, including the partial exercise of the over-allotment option granted to the underwriters.
Each unit is comprised of one common share of Osisko Metals and one-half of one common share purchase warrant, each of which will qualify as a flow-through share. Each warrant entitles the holder thereof to acquire one common share of Osisko Metals at a price of $0.57 per warrant share for a period of 60 months following the closing date.
The offering was led by Eight Capital, on behalf of a syndicate of underwriters, which included Haywood Securities Inc.
Cassels acted for the underwriters.