Osisko Development Amends US$50 Million Credit Facility
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Osisko Development Corp. Common Shares (ODV)
Company Research
Source: GlobeNewswire
MONTREAL, June 10, 2024 (GLOBE NEWSWIRE) -- Osisko Development Corp. (NYSE: ODV, TSXV: ODV) ("Osisko Development" or the "Company") announces it has entered into an amending agreement to the credit agreement (the "Amendment") with National Bank of Canada (the "Lender") made as of March 1, 2024 providing for a US$50 million delayed draw term loan (the "Credit Facility"), through its wholly-owned subsidiary, Barkerville Gold Mines Ltd. ("Barkerville"). The Amendment provides for, among other things: An 8-month extension to the maturity date of the Credit Facility to October 31, 2025 (from March 1, 2025). The extension is subject to the Company completing a capital raise of at least US$20 million prior to October 31, 2024, otherwise the maturity date reverts to February 28, 2025.Reduction in the mandatory prepayment amount to 50% of each incremental dollar raised in excess of US$25 million in respect of certain financings, allowing the Company to preserve 50% of such proceeds. There
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ODV
Sec Filings
- 6/10/24 - Form 6-K
- 6/3/24 - Form 6-K
- 5/24/24 - Form 6-K
- ODV's page on the SEC website