Osisko Metals announces closing of purchase of 3% NSR on Pine Point Project
18 December 2019
Osisko Metals Incorporated is pleased to announce that it has completed the acquisition of 100% interest in Karst Investments LLC ("Karst"), whose only asset prior to the completion of the acquisition by Osisko Metals was a 3% net smelter return royalty (the “Pine Point NSR”) on the mineral claims and leases comprising the Pine Point zinc-lead project (the “Pine Point Project”). The Pine Point Project is 100% owned by a wholly owned subsidiary of the Corporation. As announced previously, in consideration for the acquisition of Karst, Osisko Metals has paid the sellers US$8.5 million in cash and issued 2 million common shares of the Corporation. The shares issued to the sellers as part of the purchase price are subject to the standard four-month holding period.