Osisko Gold Appoints New CFO And Amends Credit Facility For Cariboo Project

• Osisko Gold Group appoints Elijah Tyshynski as CFO to succeed retiring executive Alexander Dann, leveraging his capital markets background.
• The company amended its $450 million credit facility with Appian, reducing interest rate margins to lower capital costs.
• Technical conditions for the $350 million second draw were satisfied, validating drilling data and reducing investment risk .
• Osisko continues construction readiness at its Cariboo project with 2.7 km of underground development completed .
• Resource conversion drilling is scheduled to commence in Q3 2026 as the company targets intermediate producer status .

Osisko Gold Group has announced a significant leadership transition, appointing Elijah Tyshynski as its new Chief Financial Officer . This move succeeds Alexander Dann, who is retiring from the role of CFO and Finance Vice President . The transition is part of a planned succession process designed to support the company's next stage of growth .

CEO Sean Roosen highlighted that Tyshynski brings extensive financial and capital markets experience to the position . He noted that Tyshynski will inherit a robust balance sheet built under Dann’s leadership over the past five years . This foundation provides a strong base to maintain and execute Osisko Gold's long-term value delivery strategy . Dann will remain with the company during a transition period to ensure an orderly handover .

Tyshynski joins Osisko Gold from ATEX Resources, where he served as CFO and corporate secretary before the company was sold to Agnico Eagle Mines . His background includes significant infrastructure financing and structuring experience across developed and emerging markets . Prior roles include positions at Ontario Teachers Pension Plan, Standard Bank South Africa, Morgan Stanley, and Royal Bank of Canada in London .

In parallel with leadership changes, Osisko Gold Group Inc. has entered into an amended credit agreement with Appian . This agreement concerns a $450 million senior secured project loan designed to finance its fully permitted Cariboo Gold Project in British Columbia . The amendment demonstrates the company's financial flexibility and confidence in the project's development trajectory .

A key component of the amendment is the satisfaction of technical conditions for the $350 million second draw . Appian confirmed that requirements including infill drilling and ore sorting at the Lowhee Zone have been met . This validation of project quality helps reduce investment risk and facilitates further funding for construction readiness activities .

The revised facility also lowers applicable interest rate margins, directly impacting the company's cost of capital . The initial draw rate has been reduced from SOFR plus 9.50% to 9.00% . The second draw rate has decreased from 7.50% to 7.25% . These adjustments are expected to significantly decrease overall financing costs as the project advances .

Concurrently, Osisko continues to advance construction readiness initiatives at the Cariboo site . The company has completed approximately 2.7 km of underground development . Resource conversion drilling is scheduled to commence in Q3 2026 . These de-risking activities lay a solid foundation for the company's strategic goal of becoming an intermediate gold producer .

How Does The New CFO Transition Impact Osisko’s Financial Strategy?

The appointment of Elijah Tyshynski marks a strategic shift in financial leadership for Osisko Gold . His extensive background in capital markets and infrastructure financing is expected to drive long-term value creation . This transition aims to maintain financial discipline as the company moves from exploration to development .

Tyshynski’s experience at major institutions like Morgan Stanley and Royal Bank of Canada brings a global perspective to the role . His previous work at ATEX Resources, prior to its acquisition by Agnico Eagle Mines, provides relevant precedent for project financing . This experience is crucial for executing the Cariboo project's capital requirements .

CEO Sean Roosen emphasized that the balance sheet built under Alexander Dann’s leadership remains robust . This stability allows the new CFO to focus on growth execution rather than immediate financial restructuring . The orderly handover process ensures continuity in financial operations .

The leadership transition is timed to support the company's next development phase . As Osisko advances toward intermediate producer status, strong financial governance is critical . Tyshynski’s expertise in structuring deals across developed and emerging markets adds significant value to the executive team .

What Are The Implications Of The Amended Credit Facility For Cariboo Project?

The amended credit agreement with Appian signals strong investor confidence in the Cariboo Gold Project . Satisfaction of technical conditions for the second draw validates the project's resource quality . Infill drilling and ore sorting results at the Lowhee Zone met all required benchmarks .

Reduced interest rate margins directly improve the project's economic profile . The decrease in margins from 9.50% to 9.00% for the initial draw lowers the cost of capital . Similarly, the second draw rate reduction from 7.50% to 7.25% provides ongoing savings .

These financial adjustments support construction readiness activities such as detailed engineering and procurement . The $350 million second draw facilitates further funding for these critical development steps . This funding is essential for advancing the project toward production .

Osisko Gold continues to focus on its flagship Cariboo project in British Columbia . The Tintic project in Utah remains a core component of its operational pipeline . The combination of strong leadership and favorable financing positions the company for sustained growth .

The company's path to becoming an intermediate gold producer is now supported by refined financing terms . Reduced investment risk from validated drilling data further strengthens this trajectory . Osisko's strategic focus remains on delivering long-term value through disciplined execution .

Source conversion drilling in Q3 2026 will be a key milestone in this development . The company's ability to secure favorable loan terms reflects market confidence in its assets . Osisko Gold Group Inc. continues to build a foundation for future operational success .