16 July 2019
Osisko Metals Incorporated is pleased to announce that it has closed its previously announced "best efforts" brokered private placement, pursuant to which the Corporation sold an aggregate of 13,553,114 common shares of the Corporation that will qualify as "flow-through shares" (within the meaning of subsection 66 (15) of the Income Tax Act (Canada)) ("Flow-Through Shares") for aggregate gross proceeds of approximately $10 million (the "Offering"). Under the Offering, 6,410,257 Flow-Through Shares were issued at a price of $0.78 per Flow-Through Share for gross proceeds of approximately $5 million and 7,142,857 Flow-Through Shares were issued at a price of $0.70 per Flow Through Share for gross proceeds of approximately $5 million.
The Offering was led by Canaccord Genuity Corp. on behalf of a syndicate of agents that included Haywood Securities Inc. (together, the "Agents"). In consideration for their services, the Corporation paid the Agents a cash commission equal to 5.0% of the gross proceeds of the Offering, provided, however, that no cash commission was paid to the Agents on proceeds from any Flow-Through Shares purchased by certain persons on the "President's List". Each subscription by an "insider" is considered to be a "related party transaction" for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61- 101") and Policy 5.9 – Protection of Minority Security Holders in Special Transactions of the TSX Venture Exchange. Pursuant to MI 61-101, the Corporation has filed a material change report providing disclosure in relation to each "related party transaction" on SEDAR under Osisko Metals' issuer profile at www.sedar.com.