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Osisko Metals Announces C$8 Million Private Placement of Flow-through Shares
Osisko Metals Announces C$8 Million Private Placement of Flow-through Shares Canad...
About this update from Osisko Metals Incorporated
[{"type":"text","content":"\n\n\n\nOsisko Metals Announces C$8 Million Private Placement of Flow-through Shares\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTRÉAL, June 24, 2019\n\n\n\n/ NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /\n MONTRÉAL, June 24, 2019 /CNW/ - Osisko Metals Incorporated (the \"Corporation\" or \"Osisko Metals\") (TSX-V:OM; FRANKFURT: OB5) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. on behalf of a syndicate of agents that includes Haywood Securities Inc. (collectively, the \"Agents\"), in connection with a \"best efforts\" private placement of an aggregate of 10,697,000 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)) (\"Flow-Through Shares\") for aggregate gross proceeds of up to C$8,000,780 (the \"Offering\").  In connection with the Offering: (i) up to 6,411,000 Flow-Through Shares may be issued at an issue price of C$0.78 per Flow-Through Share (the \"Tranche One Price\") for gross proceeds of up to C$5,000,580; and (ii) up to 4,286,000 Flow-Through Shares may be issued at a price of C$0.70 per Flow-Through Share (the \"Tranche Two Price\") for gross proceeds of up to $3,000,200. \nIn addition, the Agents have been granted an option to sell up to that number of an additional Flow-Through Shares at the Tranche One Price and/or the Tranche Two Price for additional gross proceeds of up to C$2,000,000.\nThe 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 projects in Canada. All Qualifying Expenditures will be renounced in favour of the subscribers of the Flow-Through Shares effective December 31, 2019.\nThe Offering is expected to close on or about July 16, 201...