22 September 2023
MONTREAL, Sept. 22, 2023 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the "Company or "Osisko Metals") (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51) today announces a change to management and the grant of options as outlined below:
On April 6, 2023, the successful closing of the joint venture transaction between the Company and a subsidiary of Appian Natural Resources Fund III LP (“Appian”) resulted in the formation of a joint venture for the advancement of Osisko Metals’ Pine Point Project (the “Transaction”), called Pine Point Mining Limited (PPML). The Company confirms that as of September 30, 2023, Mr. Jeff Hussey will step down as President and Chief Operating Officer of Osisko Metals and transition full-time to PPML (holder of the Pine Point Project) as Chief Executive Officer. Mr. Hussey remains a member of Osisko Metals’ Board of Directors. The Company would like to thank Mr. Hussey for his contributions over the years and looks forward to continuing to benefit from his expertise in his new role at PPML, of which the Company currently retains a 67% interest.
“It has been a unique pleasure to be part of the Osisko Metals team from its inception and have had the opportunity to interact with the larger group of Osisko companies,” said Mr. Hussey. “The Company’s joint venture with Appian will enable us to advance the Pine Point Project to ‘shovel ready’ status. The Pine Point JV Team and our collaborators are outlining options for the final conceptual design, working towards initiating the feasibility study. Work has also begun on the regulatory process to obtain the permits necessary to construct and operate the mine. We are engaging and working with local communities to realize benefits for them from the future mine, and we sincerely appreciate their support in helping us reach this development milestone for the project. Going forward you can reach me through our Pine Point website, www.pinepointmining.com, or by email at: info@pinepointmining.com."