Every subscription receipt issued entitles the holder to obtain one unit of Osisko, every comprising one frequent share and one frequent share buy warrant. The warrants are exercisable at a worth of $6.00 per share for a interval of 5 years following the date of problem.
Proceeds of the providing are anticipated for use to advance the event of Osisko’s mineral property: the flagship Cariboo gold venture in central British Columbia and the San Antonio gold venture in Sonora, Mexico.
Earlier this 12 months, the corporate expanded its portfolio by buying the manufacturing Trixie gold mine positioned within the Tintic mining district of central Utah.
Osisko Growth’s inventory jumped 15% by 12:15 p.m. EDT following the financing and NYSE itemizing information. The gold developer has a market capitalization of C$935.1 million ($737m).
