By Laura Lutz
Pittsburgh, Jan. 24 - Osisko Exploration Ltd. negotiated a private placement of shares for C$70.15 million.
The company plans to sell 6.1 million common shares at C$11.50 each through a syndicate of underwriters led by Westwind Partners Inc.
The underwriters have a greenshoe for up to 900,000 shares. In addition, with agreement between parties, the underwriters may buy up to 1.7 million more shares. Both over-allotment options are exercisable until two days before closing.
Proceeds will be used for exploration and development on the company's Malartic gold project.
Settlement is expected on Feb. 8, subject to regulatory approvals.
Osisko is a mineral exploration company based in Montreal.
| Issuer: | Osisko Exploration Ltd.
|
| Issue: | Shares
|
| Amount: | C$70.15 million
|
| Shares: | 6.1 million
|
| Greenshoe: | For 900,000 shares; 1.7 million more with agreement
|
| Price: | C$11.50
|
| Warrants: | No
|
| Underwriter: | Westwind Partners Inc. (lead)
|
| Pricing date: | Jan. 24
|
| Settlement date: | Feb. 8
|
| Stock symbol: | TSX Venture: OSK
|
| Stock price: | C$12.30 at close Jan. 24
|
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