Osisko Closes $50 Million Financing With Investissement Quebec
MONTREAL, QUEBEC--(Marketwired - Feb 12, 2016) - Osisko Gold Royalties Ltd. (the "Company" or "Osisko") (TSX:OR) is pleased to announce that it has closed its previously announced $50 million financing with Ressources Québec, a wholly-owned subsidiary of Investissement Québec. Under the terms of the financing, Ressources Québec subscribed to a $50 million convertible debenture which will mature in five years and will bear interest at an annual rate of 4% payable quarterly. Ressources Québec will be entitled, at its option, to convert the debenture into common shares of the Company at a price of $19.08 at any time during the term of the debenture. Osisko has paid a 1% financing fee to Ressources Québec and will reimburse its costs incurred in connection with the financing.
About Investissement Québec
Investissement Québec's mission is to foster the growth of investment in Québec, thereby contributing to economic development and job creation in every region. The Corporation offers businesses a full range of financial solutions, including loans, loan guarantees and equity investments, to support them at all stages of their development. It is also responsible for administering tax measures and prospecting for foreign investment.
About Osisko Gold Royalties Ltd
Osisko is an intermediate mining royalty and exploration company with two world-class gold royalty assets. These two cornerstone assets are a 5% net smelter return ("NSR") royalty on the world-class Canadian Malartic gold mine, located in Malartic, Québec, and a 2.0-3.5% NSR on the Éléonore gold mine, located in James Bay, Québec. Osisko also holds a 2-3% NSR royalty on certain claims comprising the Island Gold Mine, a 2% NSR royalty on the Lamaque South Project, a 3% NSR royalty on the Malartic CHL property as well as a 2% NSR royalty on the Upper Beaver, Kirkland Lake and Hammond Reef gold exploration projects in Northern Ontario. The Company also owns a 9.8% equity interest in Labrador Iron Ore Royalty Corp..
Osisko's head office is located at 1100 Avenue des Canadiens-de-Montréal, Suite 300, Montréal, Québec, H3B 2S2.
Contact
Osisko Gold Royalties Ltd.
John Burzynski
Senior Vice President New Business Development
(416) 363-8653
jburzynski@osiskogr.com
Joseph de la Plante
Vice President Corporate Development
(514) 940-0670
jdelaplante@osiskogr.com
