By Sheri Kasprzak
New York, May 10 - Osisko Exploration Ltd. has completed, including the fully exercised over-allotment option, a C$16,006,250 private placement.
The company sold 4,925,000 units at C$3.25 each, including the greenshoe for 1,825,000 units exercised by a syndicate of underwriters led by Canaccord Capital Corp. and including Pacific International Securities Inc., Westwind Partners Inc. and Haywood Securities Inc.
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 priced on April 17 as a C$10,075,000 offering of 3.1 million units. The underwriters had originally been granted a greenshoe for up to 1.55 million units.
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.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$16,006,250
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| Units: | 4,925,000 (Greenshoe for 1,825,000 units)
|
| Price: | C$3.25
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Three years
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| Warrant strike price: | C$4.00
|
| Underwriters: | Canaccord Capital Corp. (lead), Pacific International Securities Inc., Westwind Partners Inc., Haywood Securities Inc.
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| Pricing date: | April 17
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| Settlement date: | May 10
|
| Stock symbol: | TSX Venture: OSK
|
| Stock price: | C$3.29 at close April 17
|
| Stock price: | C$3.41 at close May 10
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