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Osisko Metals Announces Filing of Technical Report on Gaspé Copper; Update on Previously-Announced Private Placement
MONTRÉAL, June 13, 2022 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the "Company" or "Osisko Metals") (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased
About this update from Osisko Metals Incorporated
[{"type":"text","content":" MONTRÉAL, June 13, 2022 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the \"Company\" or \"Osisko Metals\") (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to announce that it has filed a technical report in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects in connection with the initial inferred mineral resource estimate at Mount Copper as part of the Gaspé Copper project, located near Murdochville in the Gaspé peninsula of Québec. The technical report entitled \"NI 43-101 Technical Report on Gaspé Copper Project, Mineral Resource Estimate, Mount Copper Deposit, Québec, Canada\" dated June 12, 2022 (with an effective date of April 12, 2022) has been prepared for Osisko Metals by SGS Canada Inc. The technical report is available on SEDAR (www.sedar.com) under Osisko Metals' issuer profile. The technical report has been filed on account of the Company's option to purchase from Glencore Canada Corporation, a 100% interest in the Gaspé Copper property, as more particularly described in the management's discussion and analysis of the Company for the three-month period ended March 31, 2022, a copy of which is available on SEDAR (www.sedar.com) under Osisko Metals' issuer profile. Update on Private Placement The Company is also pleased to announce that its previously-announced \"bough deal\" private placement (the \"Offering\") of flow-through units of the Company (\"FT Units\") and flow-through shares of the Company (\"FT Shares\") is expected to close on June 16, 2022, including the exercise of the underwriters' option. Accordingly, pursuant to the Offering, an aggregate of 19,166,667 FT Units and 4,600,000 FT Shares are expected to be issued. Each FT Unit is comprised of (i) one common share of the Company that will qualify as \"flow-through shares\" (within the meaning of subsection 66 (15) of the Income Tax Act (Canada)), and (ii) one-half-of-one common share purchase warrant of the Company (each whole warrant, a \"FT Warrant\"). Each whole FT Warrant will entitle the holder thereof to purchase one common share of the Company 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. About Osisko Metals Osisko Metals Incorporated is a Canadian exploration and development company focused on creating value in the ba...