TORONTO, Jan. 12, 2026 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the "Company" or "Osisko Metals") (TSX:OM, OTCQX:OMZNF, FRANKFURT: OB51)) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp., as sole bookrunner and co-lead underwriter, on behalf of a syndicate of underwriters, which includes BMO Capital Markets as co-lead underwriter (collectively, the "Underwriters") in connection with a "bought deal" private placement financing of an aggregate of 11,812,000 common shares of the Company that will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) (the "Flow-Through Shares") at a price of C$1.27 per Flow-Through Share (the "Issue Price") for gross proceeds of C$15,001,240 (the "Offering").
The gross proceeds from the issue and sale of the Flow-Through Shares will be used by the Company to incur eligible "Canadian exploration expenses" that will qualify as "flow-through critical mineral mining expenditures" (as both terms are defined in the Income Tax Act (Canada)) (the "Qualifying Expenditures") related to the Corporation's projects on or before December 31, 2027. All Qualifying Expenditures will be renounced in favour of the subscribers of the Flow-Through Shares with an effective date on or before December 31, 2026.
The Flow-Through Shares will be offered for sale by way of private placement in each of the provinces of Canada (other than Québec), pursuant to available prospectus exemptions under National Instrument 45-106, Prospectus Exemptions. Closing of the Offering is expected to take place on or about February 3, 2026 (the "Closing Date"), and is subject to certain conditions including, but not limited to, the conditional approval of the Toronto Stock Exchange. The Flow-Through Shares to be issued under the Offering will be subject to a hold period expiring four months and one day from the Closing Date pursuant to applicable Canadian securities laws.
In consideration for the Underwriters' services, the Company has agreed to pay the Underwriters a cash commission equal to 5% of the gross proceeds of the Offering.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account ...
