Osisko Development Announces Annual Grant of Stock Options, Restricted Share Units and Deferred Share Units
01 July 2022 - 10:39PM
Osisko Development Corp. (“
Osisko Development” or
the “
Company”) (ODV TSX.V & NYSE) announces
that, as part of the Company’s annual compensation review, the
Board of Directors has authorized the grant of an aggregate of
765,500 incentive stock options (the “Options”) to officers of the
Company. The Options have an exercise price of $6.49 per share, are
exercisable for a period of five-years from the date of grant and
will vest as follows: one-third on the date of grant, one-third on
the first anniversary of the date of grant and one-third on the
second anniversary of the date of grant. The Options were granted
in accordance with the Company’s Stock Option Plan.
In addition, the Board of Directors authorized
the grant of an aggregate 584,300 restricted share units
(“RSUs”) to officers of the Company and an
aggregate 96,200 deferred share units (“DSUs”) to
independent directors of the Company. The RSUs awarded will vest on
the third anniversary of the grant date and the DSUs will not vest
until such time as the recipient independent Director ceases to be
a Director of the Company. The RSUs and DSUs were granted in
accordance with the Company’s RSU Plan and DSU Plan. Complete
details regarding each of the Stock Option Plan, RSU Plan and DSU
Plan are available on the Company’s website.
The Company is pleased to announce the
appointment of Mr. Laurence Farmer as General Counsel, Vice
President Strategic Development and Corporate Secretary with effect
as at July 1, 2022. Mr. Farmer is joining the Company from Osisko
Gold Royalties Ltd (“Osisko Gold Royalties”),
where he held the position of Senior Counsel. Prior to his role at
Osisko Gold Royalties, Mr. Farmer worked in investment banking at
RBC Capital Markets in London and, before that, practiced as a
corporate lawyer with Norton Rose Fulbright LLP in London, England
and Montréal, Canada. With Mr. Farmer’s appointment, Mr. André Le
Bel will step down as Corporate Secretary of the Company and
continue his duties with his employer Osisko Gold Royalties. The
Company would like to thank Mr. Le Bel for his service.
About Osisko Development
Corp.
Osisko Development Corp. is uniquely positioned
as a premier gold development company in North America to advance
the Cariboo Gold Project and other properties in the USA and
Mexico, with the objective of becoming the next mid-tier gold
producer. The Cariboo Gold Project, located in central British
Columbia, Canada, is Osisko Development's flagship asset. The
considerable exploration potential at depth and along strike
distinguishes the Cariboo Gold Project relative to other
development assets. Osisko Development's project pipeline is
complemented by its interest in the San Antonio gold project,
located in Sonora, Mexico and the Trixie gold test mine, located in
Utah, U.S.A.
For further information, please contact
Osisko Development Corp.:
Jean Francois LemondeVP Investor
Relationsjflemonde@osiskodev.comTel: 514-299-4926
Forward-looking Statements
Certain statements contained in this news
release may be deemed "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform
Act of 1995 and "forward-looking information" within the meaning of
applicable Canadian securities legislation. These forward‐looking
statements, by their nature, require Osisko Development to make
certain assumptions and necessarily involve known and unknown risks
and uncertainties that could cause actual results to differ
materially from those expressed or implied in these forward‐looking
statements. Forward‐looking statements are not guarantees of
performance. Words such as "may", "will", "would", "could",
"expect", "believe", "plan", "anticipate", "intend", "estimate",
"continue", or the negative or comparable terminology, as well as
terms usually used in the future and the conditional, are intended
to identify forward‐looking statements. Information contained in
forward‐looking statements is based upon certain material
assumptions that were applied in drawing a conclusion or making a
forecast or projection, including management's perceptions of
historical trends, current conditions and expected future
developments, results of further exploration work to define and
expand mineral resources, as well as other considerations that are
believed to be appropriate in the circumstances, and any other
information herein that is not a historical fact may be "forward
looking information". Material assumptions also include,
management's perceptions of historical trends, current conditions
and expected future developments, results of further exploration
work to define or expand any mineral resources, as well as other
considerations that are believed to be appropriate in the
circumstances. Osisko Development considers its assumptions to be
reasonable based on information currently available, but cautions
the reader that their assumptions regarding future events, many of
which are beyond the control of Osisko Development, may ultimately
prove to be incorrect since they are subject to risks and
uncertainties that affect Osisko Development and its business. Such
risks and uncertainties include, among others, risks relating to
capital market conditions, the ability to continue current
production, regulatory framework, the ability of exploration
activities (including drill results) to accurately predict
mineralization; errors in management's geological modelling; the
ability of to complete further exploration activities, including
drilling; property and stream interests in the Project; the ability
of the Company to obtain required approvals; the results of
exploration activities; risks relating to exploration, development
and mining activities; the global economic climate; metal prices;
dilution; environmental risks; and community and non-governmental
actions and the responses of relevant governments to the COVID-19
outbreak and the effectiveness of such responses. Readers are urged
to consult the disclosure provided under the heading "Risk Factors"
in the Company's annual information form for the year ended
December 31, 2021, as amended, which has been filed on SEDAR
(www.sedar.com) under Osisko Development's issuer profile and on
the SEC's EDGAR website (www.sec.gov), for further information
regarding the risks and other factors applicable to the exploration
results. Although the Company's believes the expectations conveyed
by the forward-looking statements are reasonable based on
information available at the date of preparation, no assurances can
be given as to future results, levels of activity and achievements.
The Company disclaims any obligation to update any forward-looking
statements, whether as a result of new information, future events
or results or otherwise, except as required by law. There can be no
assurance that these forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release. No stock exchange,
securities commission or other regulatory authority has approved or
disapproved the information contained herein.
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