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Osisko Metals Announces Closing of Fully-Subscribed $10 Million Private Placement of Flow-Through Shares
MONTRÉAL, July 16, 2019 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the "Corporation" or "Osisko Metals") (TSX-V: OM; FRANKFURT: 0B51; OTCQX: OMZNF) is plea
About this update from Osisko Metals Incorporated
[{"type":"text","content":" MONTRÉAL, July 16, 2019 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the \"Corporation\" or \"Osisko Metals\") (TSX-V: OM; FRANKFURT: 0B51; OTCQX: OMZNF) is pleased to announce that it has closed its previously-announced \"best efforts\" brokered private placement, pursuant to which the Corporation sold an aggregate of 13,553,114 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 approximately $10 million (the \"Offering\"). Under the Offering, 6,410,257 Flow-Through Shares were issued at a price of $0.78 per Flow-Through Share for gross proceeds of approximately $5 million and 7,142,857 Flow-Through Shares were issued at a price of $0.70 per Flow-Through Share for gross proceeds of approximately $5 million. The Offering was led by Canaccord Genuity Corp. on behalf of a syndicate of agents that included Haywood Securities Inc. (together, the \"Agents\"). In consideration for their services, the Corporation paid the Agents a cash commission equal to 5.0% of the gross proceeds of the Offering, provided, however, that no cash commission was paid to the Agents on proceeds from any Flow-Through Shares purchased by certain persons on the \"President's List\". The following \"insiders\" of the Corporation have subscribed for Flow-Through Shares under the Offering: Insider Insider Relationship Flow-ThroughShares Purchased (#) Subscription Amount ($) Bryan A. Coates Director or Senior Officer of 10% Security Holder 71,500 $50,050.00 Paul Andrew Dumas Director of Issuer; Senior Officer of Issuer 29,215 $20,450.50 Joseph Jeffrey Hussey Director of Issuer; Senior Officer of Issuer 35,714 $24,999.80 Sean Roosen Director or Senior Officer of 10% Security Holder 143,000 $100,100.00 Donald Siemens Director of Issuer 200,000 $140,000.00 Cathy Singer Director of Issuer 14,286 $10,000.20 Robert Wares Director of Issuer 1,116,669 $781,668.30 Totals 1,610,384 $1,127,268.80 Note: (1) Cathy Singer Professional Corp., a holding company of Ms. Cathy Singer, subscribed under the Offering. Each subscription by an \"insider\" is considered to be a \"related party transaction\" for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (\...