9 April 2021
Osisko Metals Incorporated is pleased to announce that it has entered into an agreement with Haywood Securities Inc. ("Haywood"), as sole agent and bookrunner, in connection with a "best efforts" private placement of up to 10,000,000 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"), at a price of C$0.50 per Flow-Through Share (the "Issue Price"), for gross proceeds of up to C$5,000,000 (the "Offering").
In addition, Haywood has been granted an option to sell up to an additional 2,000,000 Flow-Through Shares at the Issue Price for additional gross proceeds of up to C$1,000,000, exercisable at any time by Haywood up to 48 hours prior to closing of the Offering.
The gross proceeds from the Offering will be used by the Corporation to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) (the "Qualifying Expenditures") related to the Corporation's Pine Point Zinc Project, located in the Northwest Territories. All Qualifying Expenditures will be renounced in favour of the subscribers of the Flow-Through Shares effective December 31, 2021.