Osisko Development raises $143.8 million in share offering

Osisko Development Corp. (NYSE: ODV, TSXV: ODV) completed a public offering of 40,607,650 common shares at $3.54 per share, raising gross proceeds of $143.8 million. The offering included the full exercise of underwriters' over-allotment option.

The bought deal was led by National Bank Capital Markets, RBC Capital Markets and Cantor as co-lead underwriters and co-bookrunners, with BMO Capital Markets participating in the syndicate. Underwriters received a 4.5% commission on gross proceeds.

The company plans to use net proceeds to fund infill conversion drilling and exploration at its Cariboo Gold Project in British Columbia, Canada, along with general working capital purposes.

"We see 2026 as a key inflection point for Osisko Development and our flagship, fully permitted Cariboo Gold Project," stated Sean Roosen, Chairman and CEO. The proceeds will support drilling aimed at upgrading mineral resources to reserves and potentially enhancing the project's annual gold production profile.

Double Zero Capital LP, an insider of the company, purchased 8,080,000 shares for $28.6 million under its pre-emptive rights through an investor rights agreement dated August 15, 2025. This transaction was considered a related party transaction under Canadian securities regulations.

The offering was conducted through prospectus supplements filed in Canada and the United States. The transaction remains subject to final approval from the TSX Venture Exchange.

Osisko Development focuses on developing gold projects in North America, with its flagship Cariboo Gold Project representing a fully permitted asset in central British Columbia.

You May Also Be Interested In

• Cumberland Farms files for IPO on Nasdaq under ticker CMBY
• AXT-Tongmei signs 3-year wafer supply deal with Coherent
• ITG, Inc. raises $323.4M in Nasdaq IPO at $16 per share