Osisko Gold Royalties Ltd (TSX: OR) has closed private placements with existing investors the Caisse de dépôt et placement du Québec and the Fonds de solidarité FTQ. The transactions, which provide total gross proceeds of around $42 million, was previously announced concurrently with Osisko’s agreement to combine with Virginia Mines Inc (TSX: VGQ). That $479 million acquisition will see the Caisse and the Fonds also invest in Virginia. Based in Montréal, Osisko is a gold-focused royalty and stream company.
Osisko Closes Private Placements with CDPQ and the Fonds for Proceeds of $42 Million
MONTREAL, QUEBEC–(Marketwired – Nov. 26, 2014) – Osisko Gold Royalties Ltd (TSX:OR) (“Osisko” or the “Corporation”) is pleased to announce that it has closed the private placements announced on November 17, 2014 whereby Osisko issued a total of 2,794,411 common shares to la Caisse de dépôt et placement du Québec (“CDPQ”) and le Fonds de solidarité FTQ (the “Fonds”) at a price of C$15.03 per share for total gross proceeds of approximately C$42 million. In addition to their existing shareholdings, this share purchase increases CDPQ’s ownership in Osisko to 6.9% and the Fonds’ ownership in Osisko to 1.9%.
About Osisko Gold Royalties Ltd
Osisko is a gold-focused royalty and stream company whose cornerstone asset is a 5% Net Smelter Royalty (“NSR”) royalty on the world-class Canadian Malartic gold mine, located in Malartic, Quebec. The Company also holds a 2% NSR royalty on the Upper Beaver, Kirkland Lake and Hammond Reef gold exploration projects in Northern Ontario. The Corporation has over $180 million in cash resources, no debt and a portfolio of investments in emerging exploration companies. As announced on November 17, 2014, Osisko and Virginia have entered into a definitive agreement to combine the two companies to create a new leading intermediate royalty company with two world-class gold royalty assets in Québec.
Senior Vice President, New Business Development
Joseph de la Plante
Vice President, Corporate Development
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