Conversion price is 33.1% premium to Feb. 11 closing share price
By Angela McDaniels
Tacoma, Wash., Feb. 12 – Osisko Gold Royalties Ltd. said it sold a C$50 million 4% five-year convertible debenture to Ressources Quebec, a wholly owned subsidiary of Investissement Quebec.
The conversion price is C$19.08, which is a 33.1% premium to the company’s closing share price on Feb. 11.
Osisko paid a 1% financing fee to Ressources Quebec and will reimburse its costs incurred in connection with the financing, according to a company news release.
Osisko is an intermediate gold mining royalty and exploration company based in Montreal.
| Issuer: | Osisko Gold Royalties Ltd.
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| Issue: | Convertible debenture
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| Amount: | C$50 million
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| Term: | Four years
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| Coupon: | 4%, payable quarterly
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| Conversion price: | C$19.08
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| Conversion premium: | 33.1%
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| Warrants: | No
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| Investor: | Ressources Quebec
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| Settlement date: | Feb. 12
|
| Stock symbol: | Toronto: OR
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| Stock price: | C$14.34 at close Feb. 11
|
| Market capitalization: | C$1.56 billion
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