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Osisko Metals Announces $10 Million "Bought Deal" Financing Of Flow-through Shares
Osisko Metals Announces $10 Million "Bought Deal" Financing Of Flow-through Shares ...
About this update from Osisko Metals Incorporated
[{"type":"text","content":"\n\n\n\nOsisko Metals Announces $10 Million \"Bought Deal\" Financing 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\nMONTREAL, Aug. 21, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nMONTREAL, Aug. 21, 2018 /CNW/ - Osisko Metals Incorporated (the \"Corporation\" or \"Osisko Metals\") (TSXV: OM) (FRANKFURT: OB5) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. on behalf of a syndicate of underwriters that includes Industrial Alliance Securities Inc., Desjardins Securities Inc. and Macquarie Capital Markets Canada Ltd. (collectively, the \"Underwriters\"), in connection with a \"bought deal\" private placement of 10,870,000 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) and section 359.1 of the Taxation Act (Québec)) (\"Flow-Through Shares\") at a price of $0.92 per Flow-Through Share for aggregate gross proceeds of $10,000,400 (the \"Offering\").\n\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 Québec. All Qualifying Expenditures will be renounced in favour of the subscribers of the Flow-Through Shares effective December 31, 2018.\n\nThe Offering is expected to close on or about September 12, 2018 and is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals including the conditional listing approval of the TSX Venture Exchange and the applicable securities regulatory authorities. The Offering is being made by way of private placement in Canada. The securities issued under the Offering will be subject to a hold period in Canada expiring four months and one day from the c...