By Laura Lutz
Chicago, Oct. 20 - Osisko Exploration Ltd. arranged a C$5.5 million private placement with EurAsia Holding AG of Germany, the principal shareholder of Osisko.
Osisko will sell up to 1 million units of one share and one warrant for C$5.50 per unit.
Each warrant will be exercisable at C$6.25 for three years.
Proceeds from the non-brokered deal will be used to fund feasibility work on the company's Canadian Malartic project and to secure options on equipment that will be needed for the project's development phase.
Osisko is a Montreal-based gold exploration company.
| Issuer: | Osisko Exploration Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$5.5 million
|
| Units: | 1 million
|
| Price: | C$5.50
|
| Warrants: | One per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$6.25
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 20
|
| Stock symbol: | TSX Venture: OSK
|
| Stock price: | C$5.56 at close Oct. 20
|
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