Osisko Development announces $125 million share offering for Cariboo project

Osisko Development Corp. (NYSE: ODV, TSXV: ODV) announced a $125 million bought deal public offering of common shares to fund development activities at its Cariboo Gold Project in British Columbia.

The company entered into an agreement with underwriters led by National Bank Capital Markets, RBC Capital Markets and Cantor to sell 35.3 million common shares at $3.54 per share. The underwriters also received an over-allotment option to purchase an additional 5.3 million shares for up to $18.8 million in additional proceeds.

Osisko Development stated it intends to use the net proceeds for infill conversion drilling and exploration at the Cariboo Gold Project, along with general working capital purposes. The offering is being made in Canada through a prospectus supplement and in the United States through a prospectus supplement to its existing registration statement.

The base offering is expected to close on January 30, 2026, subject to regulatory approvals including conditional approval from the TSX Venture Exchange and listing approval from the New York Stock Exchange. The over-allotment option can be exercised within 30 days of the closing date.

The offering may also be made available in certain jurisdictions outside Canada and the United States on a private placement basis. Prospective investors can access the relevant prospectus documents through SEDAR+ in Canada and EDGAR in the United States.

Osisko Development describes itself as a North American gold development company focused on the fully permitted Cariboo Gold Project and the Tintic Project in Utah. The company aims to become an intermediate gold producer through development of its flagship Cariboo property.

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