21 June 2023
(Montreal, June 21, 2023) Osisko Metals Incorporated (the "Company" or "Osisko Metals") (TSX- V: OM; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to announce the terms of a proposed "best efforts" private placement offering of up to 7,500,000 common shares of the Company (each, a "FT Share") that will qualify as "flow-through shares" within the meaning of the Income Tax Act (Canada) (the "Tax Act") and the Taxation Act (Que?bec) at a price of $0.40 per FT Share (the "Offering Price") for gross proceeds to the Company of up to $3,000,000 (exclusive of the Agents' Option (as defined herein)) (the "Offering").
The Offering will be completed pursuant to the terms of an agency agreement to be entered into among the Company and Velocity Trade Capital Ltd., as lead agent and sole bookrunner (the "Lead Agent"), for and on behalf of a syndicate of agents (together with the Lead Agent, the "Agents"). In connection with the Offering, the Agents will have an option, exercisable in full or in part, up to 48 hours prior to the closing of the Offering, to raise additional gross proceeds of up to $500,000 from the offer and sale of up to an additional 1,250,000 FT Shares at the Offering Price per FT Share (the "Agents' Option").
In consideration for the services to be rendered by the Agents in connection with the Offering, the Company has agreed to: (i) pay the Agents a cash commission equal to 7.0% of the gross proceeds of the Offering; and (ii) issue to the Agents such number of non-transferable broker warrants (each, a "Broker Warrant") as is equal to 7.0% of the number of FT Shares offered and sold under the Offering. Each Broker Warrant will entitle the holder thereof to purchase one common share of the Company at a price of $0.25 per common share for a period of 18 months from the closing date of the Offering.