Osisko Mining Inc. announced that it has entered into an agreement for a private placement on bought deal to issue 24,195,000 units at an issue price of CAD 3.1 per unit for gross proceeds of CAD 75,004,500 on February 6, 2023. Each unit will consist of one common share and one-half of one common share purchase warrant of the company. Each warrant will entitle the holder to acquire one common share of the company for 18 months from the closing of the offering at a price of CAD 4 per warrant share.

The company has also granted the underwriters an option to purchase up to an additional 8,065,000 units at the offering price for additional gross proceeds of up to CAD 25,001,500 exercisable at any time up to 48 hours prior to the closing of the offering. It is anticipated that closing of the offering will occur on or about February 28, 2023, 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 sold under the offering will have a hold period in Canada of four months and one day from the closing date in accordance with applicable securities laws.