On June 23, 2020, Osisko Mining Inc. completed a bought deal brokered private placement of 48,500,000 units at a price of $3.65 per unit for aggregate gross proceeds of approximately $177 million, which includes the exercise in full of the underwriters’ option. Each unit consists of one common share and one-half of one common share purchase warrant of Osisko. Each warrant entitles the holder to acquire one common share of Osisko at a price of $5.25 for 18 months from the closing date.
In connection with the offering, Canaccord Genuity Corp. and Eight Capital acted as co-lead underwriters and joint bookrunners, on behalf of a syndicate of underwriters, including BMO Capital Markets, National Bank Financial Inc., CIBC Capital Markets, Beacon Securities Limited, Echelon Wealth Partners Inc., Haywood Securities Inc. and Industrial Alliance Securities Inc.
Cassels acted for the underwriters with a deal team that included Chad Accursi, James Lyle and Tiffany Chiu (Securities and Mining).