By Sheri Kasprzak
New York, March 20 - Osisko Exploration Ltd. said it plans to raise C$1.08 million in a private placement.
The non-brokered deal includes 600,000 units at C$1.80 each, offered to EurAsia Holding AG, the company's principal shareholder.
The units consist of one share and one half-share warrant, with each whole warrant exercisable at C$2.36 for two years.
Proceeds will be used for exploration on the company's Canadian Malartic properties and for working capital.
Montreal-based Osisko is a mineral exploration company.
| Issuer: | Osisko Exploration Ltd.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1.08 million
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| Units: | 600,000
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| Price: | C$1.80
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$2.36
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| Placement agent: | Non-brokered
|
| Pricing date: | March 20
|
| Stock symbol: | TSX Venture: OSK
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| Stock price: | C$3.17 at close March 20
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