Osisko Development Announces Annual Grant of Incentive Awards
July 05 2024 - 7:00AM
Osisko Development Corp. (NYSE: ODV, TSXV: ODV)
("
Osisko Development" or the
"
Company") announces that effective July 4, 2024,
as part of its annual compensation review, the Board of Directors
of the Company has approved the grant of an aggregate of 2,797,400
incentive stock options (the "
Options") and an
aggregate of 371,800 restricted share units
("
RSUs") to certain senior officers of the Company
(together, the "
Equity Incentive Awards"), in
accordance with the terms of the Company's Option and RSU plans, as
applicable.
The Equity Incentive Awards constitute the
annual equity-based compensation grants of the Company, consistent
with its regular annual compensation cycle. The Options are
exercisable at a price of C$2.72 per share of the Company (based on
the closing price of July 3, 2024) and will expire on July 4, 2029.
Vesting of Options will occur in three equal parts on the following
dates: July 4, 2025, July 4, 2026, and July 4, 2027, respectively.
The RSUs will cliff vest on July 4, 2027.
ABOUT OSISKO
DEVELOPMENT CORP.
Osisko Development Corp. is a North American
gold development company focused on past-producing mining camps
located in mining friendly jurisdictions with district scale
potential. The Company's objective is to become an intermediate
gold producer by advancing its 100%-owned Cariboo Gold Project,
located in central B.C., Canada, the Tintic Project in the historic
East Tintic mining district in Utah, U.S.A., and the San Antonio
Gold Project in Sonora, Mexico. In addition to considerable
brownfield exploration potential of these properties, that benefit
from significant historical mining data, existing infrastructure
and access to skilled labour, the Company's project pipeline is
complemented by other prospective exploration properties. The
Company's strategy is to develop attractive, long-life, socially
and environmentally sustainable mining assets, while minimizing
exposure to development risk and growing mineral resources.
For further information, visit our website at
www.osiskodev.com or contact:
Sean Roosen |
Philip Rabenok |
Chairman and CEO |
Director, Investor Relations |
Email: sroosen@osiskodev.com |
Email: prabenok@osiskodev.com |
Tel: +1 (514) 940-0685 |
Tel: +1 (437) 423-3644 |
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release. No stock exchange,
securities commission or other regulatory authority has approved or
disapproved the information contained herein.
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