Osisko Development Corp. Announces Closing of Convertible Senior Notes Offering

Osisko Development Corp. has closed an offering of US$225.0 million in aggregate principal amount of 4.125% convertible senior notes due 2031. The offering was made to qualified institutional buyers. The company estimates net proceeds of approximately US$215.9 million, intended for the development of the Cariboo Gold Project and general corporate purposes, including the cost of capped call transactions to offset potential dilution. An additional US$25.0 million in notes may be purchased by initial purchasers, and Double Zero Capital, LP, an affiliate, has agreed to purchase US$50.0 million in a concurrent private placement. The initial conversion price represents a premium of approximately 25.0% over the last reported sale price of the company's common shares.