Osisko Metals Announces C$10 Million Bought Deal Private Placement of Flow-Through Shares and Flow-Through Units

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[{"type":"text","content":" MONTRÉAL, May 16, 2022 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the \"Corporation\" or \"Osisko Metals\") (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: OB51) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Eight Capital (collectively, the “Underwriters”) who, as lead underwriter has agreed to purchase, on a bought deal private placement basis (the \"Offering\"): No less than 14,815,000 flow-through units of the Corporation (\"FT Units\") at a price of $0.54 per FT Unit (the \"FT Unit Issue Price\"), for gross proceeds of approximately $8 million, with each FT Unit comprised of (i) one common share of the Corporation that will qualify as \"flow-through shares\" (within the meaning of subsection 66 (15) of the Income Tax Act (Canada)) (\"FT Shares\"), and (ii) one-half-of-one common share purchase warrant of the Corporation (each whole warrant, a \"FT Warrant\"); and Up to 4,000,000 FT Shares at a price of $0.50 per FT Share (the \"FT Share Issue Price\"), for gross proceeds of approximately $2 million. Each whole FT Warrant will entitle the holder thereof to purchase one common share of the Corporation at a price of $0.57 per share until the close of business on the date which is 60 months from the closing date of the Offering. The Corporation has also granted to the Underwriters an option, exercisable, in whole or in part, up to 48 hours prior to the closing of the Offering, to purchase up to an additional aggregate amount of 2.22 million FT Units at the issue price and 600,000 FT shares at the issue price for additional gross proceeds of up to $1,500,000. The gross proceeds from the Offering will be used by the Corporation to incur eligible \"Canadian exploration expenses\" that will qualify as \"flow-through mining expenditures\" (as such terms are defined in the Income Tax Act (Canada)) (the \"Qualifying Expenditures\") related to the Corporation's Pine Point Zinc Project and Gaspé Copper Project. All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Shares effective December 31, 2022. The Corporation has agreed to pay the Underwriters a cash commission equal to a maximum of 6.5% of the gross proceeds of the Offering and a number of broker warrants equal to a maximum of 6.5% of the FT Units and FT Shares purchased pursuant to the Offering. Each...

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