Osisko Development Closes $203 Million Private Placement for Project Financing
Osisko Development Corp. successfully closed a private placement raising approximately US$203 million. The funds are intended to finance the construction of the Cariboo Gold Project.
Montreal, Quebec – Osisko Development Corp. announced on August 15, 2025, the closing of its private placement, raising approximately US$203 million. The company issued 99,065,330 units at a price of US$2.05 per unit.
The financing comprised a US$120 million "bought deal" brokered placement and a US$83 million non-brokered placement. Double Zero Capital LP, a Delaware-based investment firm, was a significant participant in the non-brokered portion, subscribing for approximately US$75 million and acquiring about 15.4% of the company's shares post-closing.
Each unit consists of one common share and one-half of a common share purchase warrant. The warrants entitle holders to purchase a common share for US$2.56 until August 2027. The exercise period for warrants may be accelerated if the stock's closing price exceeds the exercise price for 20 consecutive trading days.
The company plans to use the proceeds for the construction of the Cariboo Gold Project. This, combined with a previously announced US$450 million project loan facility and other potential financing, is expected to provide sufficient funding for the project. Certain company insiders also participated in the financing, subscribing for units valued at approximately US$1.29 million.