By Sheri Kasprzak
New York, April 17 - Osisko Exploration Ltd. has upsized the greenshoe associated with its previously announced C$10,075,000 private placement.
Underwriter Canaccord Adams, Inc. now has a greenshoe for up to 1,825,000 units.
Canaccord originally had a greenshoe for up to 1.55 million units.
The placement itself includes up to 3.1 million units at C$3.25 each.
The units consist of one share and one half-share warrant with each full warrant exercisable at C$4.00 for three years.
The deal is expected to close May 8.
Proceeds will be used for exploration on the company's Canadian Malartic project and for general corporate purposes.
Based in Montreal, Osisko is a gold exploration company.
| Issuer: | Osisko Exploration Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$10,075,000
|
| Units: | 3.1 million
|
| Greenshoe: | For up to 1,825,000 units
|
| Price: | C$3.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$4.00
|
| Underwriter: | Canaccord Adams, Inc.
|
| Pricing date: | April 17
|
| Settlement date: | May 8
|
| Stock symbol: | TSX Venture: OSK
|
| Stock price: | C$3.40 at close April 13
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