TORONTO, Dec. 16, 2025 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the "Company" or "Osisko Metals") (TSX:OM, OTCQX:OMZNF, FRANKFURT: OB51)) is pleased to announce that it has completed its previously announced non-brokered private placement with four strategic investors, pursuant to which the Company issued an aggregate of 67,666,666 common shares of the Company (the "Common Shares") at an offering price of $0.48 per Common Share for aggregate gross proceeds to the Company of approximately $32,480,000 (the "Private Placement").
The Private Placement included subscriptions from the following strategic investors:
Hudbay Minerals Inc.: 29,166,666 Common Shares for gross proceeds of $14,000,000;
Agnico Eagle Mines Limited: 26,000,000 Common Shares for gross proceeds of $12,480,000;
Franco-Nevada Corporation: 4,166,667 Common Shares for gross proceeds of $2,000,000; and
Caisse de dépôt et placement du Québec (La Caisse): 8,333,333 Common Shares for gross proceeds of $4,000,000.
After giving effect to the Private Placement: (i) Hudbay Minerals Inc. ("Hudbay") beneficially owns or controls 29,166,666 Common Shares, representing approximately 4.3% of the issued and outstanding Common Shares, calculated on a non-diluted basis; and (ii) Agnico Eagle Mines Limited ("Agnico") beneficially owns or controls 67,210,000 Common Shares and 20,605,000 Common Share purchase warrants, representing an ownership interest in the Company equal to approximately 9.85% on a non-diluted basis and 12.49% on a partially-diluted basis.
Concurrently with the closing of the Private Placement, the Company and Hudbay entered into an investor rights agreement, pursuant to which Hudbay was granted certain rights, including top-up rights and the right to participate in future offerings of securities of the Company upon Hudbay's ownership interest increasing to 9.9% and, subject to certain minimum ownership thresholds and other conditions, the right to board representation. In addition, the Company and Agnico also amended and restated the terms of their existing investor rights agreement dated December 11, 2024, to, among other things, permit Agnico to increase its ownership interest in the Company to approximately 12.49%.
The net proceeds of the Private Placement are expected to be used to advance the Company's Gaspé Copper project (including drilling, permitting and technical studies) and for general corporate purposes.
The Private Placement remains subject to the final approval of the Toronto Stock Exchange (the "TSX"). All Common Shares issued under the Private Placement are subject to a statutory hold period expiring four months ...
