Announcement Date: 2022-02-28
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Osisko Development Corp.
Project name: San Antonio
Location: Mexico
Commodities: Gold,Silver
Highlight: Drilling results incl. 78.9m @ 2.19g/t Au, 4.12g/t Ag from 7.1m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: MONTREAL, February 28, 2022 – Osisko Development Corp. (“Osisko Development” or the “Company”) (TSX.V-ODV) is pleased to announce the final drilling results from the 2021 exploration and category conversion drill program campaign at its San Antonio Project in Sonora State, Mexico. The Company is also pleased to report, further to its previously-announced non-brokered private placement (the “Non-Brokered Placement”) of up to US$110 million of subscription receipts of the Corporation (“Subscription Receipts”), that the Corporation expects to close a first tranche of the Non-Brokered Placement on March 4, 2022 for gross proceeds of approximately US$67.3 million of Subscription Receipts. The Corporation has also received subscription proceeds or expressions of interest for the remaining Subscription Receipts allotted under the up to US$110 million Non-Brokered Placement, which Osisko Development expects to close, as a second tranche closing, in late March 2022. The NonBrokered Placement is being completed on a “non-brokered” basis and no commission or finder’s fee will be paid by Osisko Development in connection therewith.
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