Osisko Development increases bought deal offering to C$60 million

MONTREAL - Osisko Development Corp. (NYSE:ODV, TSXV: ODV), with a market capitalization of $812 million and impressive 154% share price gain over the past six months, has expanded its previously announced "bought deal" financing to C$60 million due to excess demand, according to a press release statement issued Thursday.

The enlarged offering consists of a C$50 million LIFE offering and a C$10 million concurrent private placement. The LIFE offering includes three components: C$20 million in national flow-through shares priced at C$6.69 each, C$10 million in British Columbia flow-through shares at C$6.93 each, and C$20 million in common shares at C$4.78 each. According to InvestingPro data, the company operates with a moderate debt level, though its current ratio of 0.39 indicates short-term obligations exceed liquid assets.

Additionally, the company will issue 2,092,100 common shares at C$4.78 each in the concurrent private placement.

Osisko Development intends to use approximately C$30 million in net proceeds from the common shares to fund construction and pre-construction activities at its Cariboo Gold Project. The flow-through share proceeds will be used as previously disclosed in the company’s October 8 announcement.

Both offerings are expected to close around October 29, 2025, subject to regulatory approvals including conditional approval from the TSX Venture Exchange and New York Stock Exchange.

The LIFE offering will be made under the listed issuer financing exemption available under Part 5A of National Instrument 45-106, while the concurrent private placement will be conducted pursuant to available exemptions other than the LIFE exemption.

Osisko Development is focused on developing past-producing mining camps in North America, with its flagship Cariboo Gold Project in British Columbia as its primary asset. The company’s portfolio also includes the Tintic Project in Utah and the San Antonio Gold Project in Mexico. While analysts anticipate sales growth this year, InvestingPro analysis suggests the company is currently trading above its Fair Value, with 13 additional ProTips available to subscribers covering key financial metrics and market trends.

In other recent news, Osisko Development Corp. has successfully closed a private placement, raising approximately $203 million. This financing is aimed at supporting the construction of the Cariboo Gold Project in British Columbia. The private placement involved the issuance of 99,065,330 units at a price of $2.05 per unit. The funding comprises a $120 million brokered placement along with an $83 million non-brokered placement. Each unit offered includes one common share and a half-warrant, with the warrant exercisable at $2.56 until August 15, 2027. These recent developments are crucial for the advancement of the Cariboo Gold Project. The completion of this private placement marks a significant step forward for Osisko Development Corp.

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