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Upsized Offering to Include 7,143,000
Common Shares and, as initially announced,
7,402,000 Flow-Through Shares for Aggregate Gross Proceeds of
$80 million
Trading Symbol: TSX: OSK
TORONTO, Aug. 29, 2017 /CNW/ - Osisko Mining Inc.
(TSX:OSK) ("Osisko" or the "Corporation") is pleased to announce
that it has amended its agreement with Canaccord Genuity Corp., on
behalf of a syndicate of underwriters (collectively, the
"Underwriters") in relation to its previously announced two-tranche
"bought deal" private placement of 7,402,000 common shares of the
Corporation that will qualify as "flow-through shares" (within the
meaning of subsection 66 (15) of the Income Tax Act
(Canada)) for aggregate gross
proceeds of C$50,008,950 (the
"Offering"). The Offering has been amended to include an additional
7,143,000 common shares of the Corporation (the "Common Shares") at
a price of $4.20 per Common Share for
additional gross proceeds of C$30,000,600. The terms of the previously
announced two-tranche private placement financing of "flow-through
shares" remain unchanged.
In addition, the Underwriters will have the option, exercisable
in whole or in part at any time prior to the closing of the
Offering, to increase the size of the Offering of the Common Shares
by up to an additional 1,071,450 Common Shares.
The Offering is expected to close on or about October 5, 2017 and is subject to certain
conditions including, but not limited to, the receipt of all
necessary approvals including the approval of the Toronto Stock
Exchange and the applicable securities regulatory authorities. The
Offering is being made by way of private placement in Canada. The securities will not be offered or
sold in the United States. The
securities issued under the Offering will be subject to a hold
period expiring four months and one day from the closing date of
the Offering.
The securities offered have not been registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent
registration or an applicable exemption from the registration
requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of the securities in any State in which such offer,
solicitation or sale would be unlawful.
About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the
acquisition, exploration, and development of precious metal
resource properties in Canada.
Osisko holds a 100% in the high-grade Windfall Lake gold deposit
located between Val-d'Or and
Chibougamau in Québec and holds a
100% undivided interest in a large area of claims in the
surrounding Urban Barry area (82,400
hectares), a 100% interest in the Marban project located in the
heart of Québec's prolific Abitibi gold mining district, and
properties in the Larder Lake Mining Division in northeast
Ontario, including the Garrcon and
Jonpol zones on the Garrison property, the Buffonta past producing
mine and the Gold Pike mine property. The Corporation also holds
interests and options in a number of additional properties in
northern Ontario. Osisko continues
to be well financed and has approximately $190 million in cash and equity
investment.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information"
within the meaning of the applicable Canadian securities
legislation that is based on expectations, estimates and
projections as at the date of this news release. The information in
this news release about the Offering; the use of the gross proceeds
from the Offering; the jurisdictions in which the Common Shares and
Flow-Through Shares are offered or sold; the number of Common
Shares and Flow-Through Shares offered or sold; the gross proceeds
from the Offering; the timing and ability of the Corporation to
close the Offering, if at all; the timing and ability of the
Corporation to satisfy the customary listing conditions of the
Toronto Stock Exchange, if at all; the timing and ability of the
Corporation to obtain all necessary approvals; the terms of
the concurrently announced private placement of units of the
Corporation; and any other information herein that is not a
historical fact may be "forward-looking information". Any statement
that involves discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions,
future events or performance (often but not always using phrases
such as "expects", or "does not expect", "is expected",
"anticipates" or "does not anticipate", "plans", "budget",
"scheduled", "forecasts", "estimates", "believes" or "intends" or
variations of such words and phrases or stating that certain
actions, events or results "may" or "could", "would", "might" or
"will" be taken to occur or be achieved) are not statements of
historical fact and may be forward-looking information and are
intended to identify forward-looking information. This
forward-looking information is based on reasonable assumptions and
estimates of management of Osisko, at the time it was made,
involves known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
Osisko to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking information. Such factors include, among others,
risks relating to the Offering; volatility in the trading price of
common shares of the Corporation; risks relating to the
ability of the Corporation to obtain required approvals, complete
definitive documentation and complete the Offering and concurrently
announced offering of units of the Corporation on the terms
announced; ability of Osisko to complete further exploration
activities, including drilling; property interests; the results of
exploration activities; risks relating to mining activities; the
global economic climate; metal prices; dilution; environmental
risks; and community and non-governmental actions. Although the
forward-looking information contained in this news release is based
upon what management believes, or believed at the time, to be
reasonable assumptions, Osisko cannot assure shareholders and
prospective purchasers that actual results will be consistent with
such forward-looking information, as there may be other factors
that cause results not to be as anticipated, estimated or intended,
and neither Osisko nor any other person assumes responsibility for
the accuracy and completeness of any such forward-looking
information. Osisko does not undertake, and assumes no obligation,
to update or revise any such forward-looking statements or
forward-looking information contained herein to reflect new events
or circumstances, except as may be required by law.
SOURCE Osisko Mining Inc.