Osisko Mining Inc (TSX: OSK), a Toronto-based mineral exploration company, has agreed to a $25 million equity investment by Caisse de dépôt et placement du Québec.
Osisko is focused on the acquisition, exploration and development of precious metal resource properties in Canada. Its holdings include a 100 interest in the Windfall Lake gold project located near Lebel-sur-Quévillon, Québec.
The Caisse, a Canadian pension system with $308 billion in net assets, said its private placement will support the continued growth and development of the Windfall project.
Osisko Mining Announces $25 Million Private Placement by la Caisse de dépôt et placement du Québec
TORONTO and MONTRÉAL, Oct. 30, 2018 (GLOBE NEWSWIRE) — Osisko Mining Inc. (TSX:OSK) (“Osisko” or the “Corporation”) is pleased to announce that it has entered into an agreement with la Caisse de dépôt et placement du Québec (“la Caisse”) pursuant to which la Caisse will acquire, by private placement 9,259,260 common shares (“Shares”) of the Corporation at a price of $2.70 per Share.
“We are very pleased to welcome la Caisse de dépôt et placement du Québec as a significant shareholder in Osisko Mining. This investment by la Caisse provides meaningful support for the continued development of our Windfall gold project in Québec,” said Mr. John Burzynski, President and Chief Executive Officer of Osisko.
“La Caisse is pleased to reinvest in Osisko Mining alongside a management team that has significant experience, including launching one of the largest mining projects in Québec. The company will use this investment to continue growing and enhance its Windfall project in Lebel-sur-Quévillon,” stated Mathieu Gauvin, Senior Vice-President, Québec, at Caisse de dépôt et placement du Québec.
The Offering is expected to close on or about November 2, 2018 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities. The Shares to be issued under the Offering will be subject to a hold period in Canada expiring four months and one day from the closing date of the Offering.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition. exploration. and development of precious metal resource properties in Canada. Osisko holds a 100% in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quevillon area (over 3,300 square kilometres), a 100% interest in the Marban project located in the heart of Québec’s prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property. The Corporation also holds interests and options in a number of additional properties in northern Québec and Ontario
About Caisse de dépôt et placement du Québec
Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2018, it held CA$308.3 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.
For further information please contact:
President and Chief Executive Officer, Osisko Mining inc.
Telephone: (416) 363-8653
Senior advisor, Strategic Communications
Caisse de dépôt et placement du Québec
Telephone : (514) 847-5493