Osisko Gold (TSXV: ODV; NYSE: ODV) has successfully closed its US$203 million bought deal private placement for the Cariboo gold project. The property, 65 km east of Quesnel, B.C., is shovel ready. Both an underground mine and a carbon-in-pulp recovery plant are planned.The offering consisted of two parts. First, the company issued approximately 58.6 million units at the issue price for aggregate gross proceeds of US$120 million. The brokers of the first portion have been paid a cash commission equal to 4.5% of the gross proceeds on that part. Second , a non-brokered portion consisting of approximately 40.5 million units for gross proceeds of US$75 million. The second part paid a commission equal to 4.0% of its gross proceedsThe non-brokered units were largely taken up by Double Zero Capital, a Delaware investment firm, and the units represent about 15.4% of Osisko Development’s issued and outstanding common shares. Each unit consists of one common share and one-half of one share purchase warrant. Each whole warrant entitled the holder to purchase one share at a price of US2.56 per share.Certain insiders of Osisko Development subscribed for 628,000 units for gross proceeds of about US$1.3 million.Osisko will use the net proceeds of the offering to fund the distributed equity portion of the capital committed to the Cariboo gold mine. In July, company arranged a US$450-million loan credit facility with Appian Capital Advisory.The updated Cariboo feasibility study was released in April 2025. Using a current gold price of US$3,300/oz. and a mine life to 12 years, the NPV5% is to nearly US$2.1 billion and the IRR is 38.0%. In the updated scenario, the annual gold output would average 193.800 oz. in years four through nine.Proven and probable reserves over all zones are 16.7 million tonnes grading 3.78 g/t gold and containing just over 2.0 million oz. of gold.Details of the updated feasibility study are available on www.OsiskoDev.com
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