Osisko Development Corp. announced the successful closing of its previously announced private placement, raising approximately US$203 million in aggregate gross proceeds. The offering comprised a US$120 million brokered private placement and an US$83 million non-brokered private placement.
Double Zero Capital LP, a Delaware investment firm, made an approximate US$75 million subscription in the non-brokered offering, resulting in an approximate 15.4% holding in the company's issued and outstanding common shares on a non-diluted basis. Each unit in the offering consisted of one common share and one-half of one common share purchase warrant, with warrants exercisable at US$2.56 until August 15, 2027.
The net proceeds are intended to fund the broadly distributed equity portion of the capital required to construct the Cariboo Gold Project and for general corporate purposes. The company believes that these proceeds, combined with the US$450 million project loan credit facility secured on July 21, 2025, and other potential financing arrangements, will provide sufficient funding to construct the Cariboo Gold Project. Double Zero Capital LP also gained the right to nominate one director to the board.
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