/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
Trading Symbol: TSX: OSK
TORONTO, June 1, 2020 /CNW/ - Osisko Mining Inc.
(TSX:OSK) ("Osisko" or the "Corporation") is pleased to announce
that it has entered into an agreement with Canaccord Genuity Corp.
and Eight Capital to act as co-lead underwriters (the "Co-Lead
Underwriters"), on behalf of a syndicate of underwriters
(collectively with the Co-Lead Underwriters, the "Underwriters"),
pursuant to which the Underwriters have agreed to purchase, on a
bought-deal private placement basis, 41,100,000 units of the
Corporation (the "Units") at a price of C$3.65 per Unit (the "Offering Price") for gross
proceeds of C$150,015,000 (the
"Underwritten Offering").
Each Unit will consist of one common share of the Corporation (a
"Unit Share") and one-half of one common share purchase warrant
(each whole common share purchase warrant, a "Warrant"). Each
Warrant will entitle the holder to acquire one common share of the
Corporation for 18 months from the closing of the Offering at a
price of C$5.25.
The Corporation shall grant the Underwriters an option to
purchase up to an additional 7,400,000 Units at the Offering Price
for additional gross proceeds of up to C$27,010,000 (the "Underwriter Option")
exercisable at any time up to 48 hours prior to the closing of the
Offering.
The net proceeds received from the Offering will be used to
advance the Corporation's projects in Québec, as well as for
working capital and general corporate purposes.
It is anticipated that closing of the Offering will occur on or
about June 23, 2020 or such other
date or dates as the Corporation and the Underwriters may agree.
The Offering is subject to the satisfaction of certain conditions,
including receipt of all applicable regulatory approvals including
the approval of the Toronto Stock Exchange. The securities to be
issued under the Offering will have a hold period of four months
and one day from the applicable closing date in accordance with
applicable securities laws.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of any
of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful, including any of the
securities in the United States of
America. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the "1933 Act") or any state securities laws and may not
be offered or sold within the United
States or to, or for account or benefit of, U.S. Persons (as
defined in Regulation S under the 1933 Act) unless registered under
the 1933 Act and applicable state securities laws, or an exemption
from such registration requirements is available.
About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the
acquisition, exploration, and development of precious metal
resource properties in Canada.
Osisko holds a 100% interest in the high-grade Windfall Lake gold
deposit located between Val-d'Or
and Chibougamau in Québec and
holds a 100% undivided interest in a large area of claims in the
surrounding the Urban Barry area and nearby Quévillon area (over
2,700 square kilometres).
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information"
within the meaning of the applicable Canadian securities
legislation that is based on expectations, estimates, projections
and interpretations as at the date of this news release. The
information in this news release about the closing of the Offering,
use of proceeds of the Offering, the exercise of the Over-Allotment
Option, and the approval of the TSX relating to the Offering; and
any other information herein that is not a historical fact may be
"forward-looking information". Any statement that involves
discussions with respect to predictions, expectations,
interpretations, beliefs, plans, projections, objectives,
assumptions, future events or performance (often but not always
using phrases such as "expects", or "does not expect", "is
expected", "interpreted", "management's view", "anticipates" or
"does not anticipate", "plans", "budget", "scheduled", "forecasts",
"estimates", "believes" or "intends" or variations of such words
and phrases or stating that certain actions, events or results
"may" or "could", "would", "might" or "will" be taken to occur or
be achieved) are not statements of historical fact and may be
forward-looking information and are intended to identify forward-
looking information. This forward-looking information is based on
reasonable assumptions and estimates of management of the
Corporation at the time such assumptions and estimates were made,
and involves known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of Osisko to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking information. Such factors include, among others,
risks relating to the terms and duration of any government orders
suspending or limiting operations that are applicable to Osisko;
the responses of relevant governments to the COVID-19 outbreak and
the effectiveness of such responses; the ability of exploration
activities (including drill results) to accurately predict
mineralization; errors in management's geological modelling; the
ability of Osisko to complete further exploration activities,
including drilling; property interests in the Windfall Lake gold
project; the ability of the Corporation to obtain required
approvals and complete transactions on terms announced; the results
of exploration activities; risks relating to mining activities; the
global economic climate; metal prices; dilution; environmental
risks; and community and non-governmental actions. Although the
forward-looking information contained in this news release is based
upon what management believes, or believed at the time, to be
reasonable assumptions. Osisko cannot assure shareholders and
prospective purchasers of securities of the Corporation that actual
results will be consistent with such forward-looking information,
as there may be other factors that cause results not to be as
anticipated, estimated or intended, and neither Osisko nor any
other person assumes responsibility for the accuracy and
completeness of any such forward-looking information, Osisko does
not undertake, and assumes no obligation, to update or revise any
such forward-looking statements or forward-looking information
contained herein to reflect new events or circumstances, except as
may be required by law.
SOURCE Osisko Mining Inc.