Osisko Development to pay Tintic acquisition installment with company stock
Osisko Development Corp. announced it will satisfy the third deferred payment for its Tintic acquisition using company shares. The company also entered into a marketing services agreement with Resource Stock Digest.
Montreal, Québec – Osisko Development Corp. announced on May 29, 2025, that it intends to meet its third deferred payment obligation for the 2022 acquisition of the Tintic Project in Utah, USA, by issuing company shares. The payment, valued at US$2.5 million (approximately C$3.43 million), will result in the issuance of 1,368,610 Osisko Development common shares at a deemed price reflects the 20-day volume-weighted average price as of May 26, 2025. The issuance of these shares is subject to the approval of the TSX Venture Exchange. Osisko Development is a North American gold development company focused on past-producing mining camps and aims to become an intermediate gold producer. Its project portfolio includes the Cariboo Gold Project in British Columbia, the Tintic Project in Utah, and the San Antonio Gold Project in Mexico. Separately, Osisko Development has entered into a six-month marketing services agreement with Resource Stock Digest (RSD), a Texas-based firm. Under the agreement, RSD will provide promotional services for a total cash consideration of US$250,000, payable in two installments. RSD will produce and distribute content to its subscriber base across North America. Neither RSD nor its principals have an interest in the company's securities, and RSD will not receive shares or options as compensation. This marketing agreement also requires TSX Venture Exchange approval.