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Stock impact report

Osisko Development Closes US$57.5 Million Marketed Private Placement of Units [Yahoo! Finance]

Osisko Development Corp. Common Shares (ODV) 
Company Research Source: Yahoo! Finance
to announce the successful closing of its previously announced private placement of 31,946,366 units of the Company (" Units ") at a price of US$1.80 per Unit, including the exercise in full of the Agents' option, for aggregate gross proceeds of approximately US$57.5 million (the " Offering "). The Offering included a lead order from Condire Investors, LLC (" Condire "), an investment firm based in Dallas, Texas, resulting in an approximate 8.8% holding in the Company's issued and outstanding common shares immediately following the closing of the Offering (on a non-diluted basis). Concurrently with the Offering, the Company and Condire have agreed to find a mutually agreeable addition to the Company's Board of Directors or, alternatively, a Board observer. Sean Roosen, Chair and CEO of Osisko Development, commented: "The closing of this significantly oversubscribed offering – alongside the recently closed successful US$34.5 million non-brokered offering – places the Company in an ex Show less Read more
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