Source: Osisko Metals Inc.
Market Herald logo

Find out more about this capital raise

Be the first with the news that moves the market
  • Osisko Metals (OM) has increased its private placement to $11 million
  • The company will issue no less than 16,296,500 flow-through units and 4.4 million flow-through shares
  • The offering is expected to close on June 16, 2022
  • Osisko Metals is a Canadian exploration and development company
  • Osisko Metals Inc. (OM) opened trading today at $0.405

Osisko Metals (OM) has increased its previously announced private placement to $11 million.

The company will issue no less than 16,296,500 flow-through units at a price of $0.54 per unit for gross proceeds of no less than $8.8 million and up to 4,400,000 flow-through shares at a price of $0.50 per for gross proceeds of approximately $2.2 million.

Each whole FT warrant will entitle the holder to purchase one additional common share for $0.57 per share.

The company has issued the underwriters an over-allotment option to purchase up to an additional 2,440,000 flow-through units and 660,000 flow-through shares for additional gross proceeds of up to approximately $1.65 million.

Proceeds will be used to incur eligible expenses related to the Pine Point Zinc Project in Northwest Territories and the Gaspé Copper Project in Quebec. 

The underwriters will receive a cash commission and broker warrants. 

The offering is expected to close on June 16, 2022, and is subject to the receipt of all necessary approvals. 

The securities issued will be subject to a four-month hold period.

Osisko Metals is a Canadian exploration and development company.

Osisko Metals Inc. (OM) opened trading today at $0.405.

More From The Market Herald

" Grizzly (TSXV:GZD) to advance 2022 drilling for BC precious & battery metals projects

Grizzly Discoveries (GZD) is reviewing proposals for core drilling during the 2022 exploration season.

" ArcPacific (TSXV:ACP) locates lost gold-copper mine on LMSL Project

ArcPacific Resources Corp. (ACP) has discovered an early 1900s era gold-copper mine at its LMSL Project in British Columbia.

" CanAlaska Uranium (TSXV:CVV) begins airborne survey at Geikie Project

CanAlaska Uranium (CVV) has begun a high-resolution helicopter-borne aeromagnetics and radiometrics survey on its Geikie project.

" Osisko Development (TSXV:ODV) releases San Antonio Property mineral resource estimate

Osisko Development Corp. (ODV) has released an initial open pit resource estimate at its San Antonio Project in Sonora State, Mexico.