Osisko Development Raises $203M in Private Placement Offering.

Osisko Development Corp. closed a private placement of 99,065,330 units at a price of US$2.05 per unit, raising approximately US$203 million. The offering consisted of a brokered placement of 58,560,000 units and a non-brokered placement of 40,505,330 units. Double Zero Capital LP subscribed for approximately US$75 million in the non-brokered placement.

Osisko Development Corp. (NYSE: ODV, TSXV: ODV) has successfully closed a private placement of 99,065,330 units, raising approximately US$203 million. The offering consisted of a brokered placement of 58,560,000 units and a non-brokered placement of 40,505,330 units. Double Zero Capital LP subscribed for approximately US$75 million in the non-brokered placement [1].

The brokered offering was led by BMO Capital Markets and RBC Capital Markets, with Cantor Fitzgerald Canada Corporation as co-lead underwriter. The non-brokered offering included an approximate US$75 million subscription by Double Zero Capital LP, a Delaware investment firm. This subscription represents approximately 15.4% of the issued and outstanding common shares of the Company immediately following the closing of the Offering, on a non-diluted basis [1].

The net proceeds from the Offering will be used to fund the broadly distributed equity portion of the capital required to construct the Cariboo Gold Project and for general corporate purposes. The Company believes that the net proceeds of the Offering, together with the net proceeds of the US$450 million project loan credit facility with Appian Capital Advisory Limited announced on July 21, 2025, plus indications of interest from commodity traders seeking high-quality concentrate off-take, and other potential financing arrangements, will provide sufficient funding to construct the Cariboo Gold Project [1].

The Offering and investment fee remain subject to final acceptance by the TSXV. Insider participation in the Offering included certain insiders subscribing for 628,000 Units for aggregate gross proceeds of US$1,287,400. The Company relied on exemptions from the formal valuation and minority shareholder approval requirements available under Multilateral Instrument 61-101 [1].

Double Zero Capital LP acquired ownership and control, directly and indirectly, of 36,600,000 Common Shares and 18,300,000 Warrants in the non-brokered offering. After the Offering and the investment fee payment, Double Zero holds an aggregate of 38,064,000 Common Shares and 18,300,000 Warrants, representing approximately 16.0% of the issued and outstanding Common Shares on a non-diluted basis [1].

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to "U.S. Persons" absent registration under the U.S. Securities Act and all applicable U.S. state securities laws or in compliance with applicable exemptions therefrom [1].

References:
[1] https://www.globenewswire.com/news-release/2025/08/15/3134264/0/en/Osisko-Development-Closes-US-203-Million-Private-Placement-Financing.html