Deal conducted on a bought-deal basis by Canaccord Genuity and Dundee
By Devika Patel
Knoxville, Tenn., June 27 – Osisko Mining Inc. said it arranged a C$25,010,800 private placement of stock.
The company will sell 7.57 million flow-through common shares at an average price of about C$3.33 per share. The average price per share is a 45.42% premium to the June 24 closing share price of C$2.29.
The deal will be conducted on a bought-deal basis by a syndicate of underwriters led by Canaccord Genuity Corp. and Dundee Securities Ltd.
Settlement is expected July 27.
Proceeds will be used for exploration.
Montreal-based Osisko is a precious metals exploration company.
| Issuer: | Osisko Mining Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$25,010,800
|
| Shares: | 7.57 million
|
| Price: | C$3.33 (approximate, average price)
|
| Warrants: | No
|
| Underwriters: | Canaccord Genuity Corp. and Dundee Securities Ltd. (leads)
|
| Pricing date: | June 27
|
| Settlement date: | July 27
|
| Stock symbol: | Toronto: OSK
|
| Stock price: | C$2.29 at close June 24
|
| Market capitalization: | C$277.96 million
|
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