Business
Osisko Metals Closes C$15 Million "Bought-Deal" Flow-Through Share Financing
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR D...
About this update from Osisko Metals Incorporated
[{"type":"text","content":"Osisko Metals Closes C$15 Million \"Bought-Deal\" Flow-Through Share Financing\nNOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES TORONTO, Feb. 04, 2026 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the \"Company\" or \"Osisko Metals\") (TSX: OM; OTCQX: OMZNF; FRANKFURT: OB51) is pleased to announce the successful closing of its previously-announced \"bought-deal\" private placement financing, pursuant to which the Company issued an aggregate of 11,812,000 common shares of the Company that will qualify as \"flow-through shares\" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) (the \"Flow-Through Shares\") at a price of C$1.27 per Flow-Through Share for gross proceeds to the Company of C$15,001,240 (the \"Offering\"). The Company will use an amount equal to the gross proceeds from the sale of the Flow-Through Shares under the Offering to incur eligible \"Canadian exploration expenses\" that will qualify as \"flow-through critical mineral mining expenditures\" (as both terms are defined in the Income Tax Act (Canada)) (the \"Qualifying Expenditures\"), in respect of the Company's projects in Canada. The Qualifying Expenditures will be incurred on or before December 31, 2027 and will be renounced by the Company to the initial purchasers of the Flow-Through Shares with an effective date no later than December 31, 2026. The Offering was co-led by Canaccord Genuity Corp. and BMO Capital Markets. The Company understands that Agnico Eagle Mines Limited and Hudbay Minerals Inc., two of its existing strategic investors, along with Toronto-based fund Rosseau Asset Management Ltd., have purchased, as part of a follow-on transaction to the issuance of the Flow-Through Shares, all of the Common Shares issued under the Offering at a price of C$0.85 per Common Share for an aggregate purchase price of approximately C$10 million. The Flow-Through Shares issued under the Offering are subject to a hold period expiring four months and one day from the date hereof, pursuant to applicable Canadian securities laws. The Offering remains subject to final acceptance of the Toronto Stock Exchange. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be regist...