Osisko Development Secures $450 Million Financing for Cariboo Gold Project

Osisko Development Corp. announced on July 21, 2025, that it has entered into a US$450 million credit facility agreement with funds advised by Appian Capital Advisory. This financing is designated for the development and construction of the company's Cariboo Gold Project, located in central British Columbia, Canada.

The company completed an initial draw of US$100 million from the facility. These funds will be used to accelerate pre-construction activities and materially de-risk the project, including an infill drilling campaign, detailed engineering, procurement, and underground development.

The remaining US$350 million will be available through subsequent draws, contingent upon a final investment decision and the satisfaction of customary project milestones and conditions precedent. The financing also facilitates the repayment of Osisko Development's outstanding US$25 million term loan with National Bank of Canada.

Michael W. Scherb, Founder and CEO of Appian, stated that the Cariboo Gold Project aligns with Appian's investment strategy, citing its stable jurisdiction, robust mineral base, and experienced management team.

Sean Roosen, Chairman and CEO of Osisko Development, welcomed Appian as a cornerstone investor, identifying the credit facility as a key milestone for advancing the project toward a construction decision, especially following a recently completed updated feasibility study.