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Osisko Development Edges Up as Completes Final Tranche of Private Placement of Units

· 02/05/2021 05:14

10:09 AM EST, 02/05/2021 (MT Newswires) -- Gold development company Osisko Development Corp. (ODV.V) at last look gained 1.2% after saying Friday that it has completed the final tranche of its non-brokered private placement of units.

The final tranche consisted of an issuance of 1,515,731 units at $7.50 apiece for gross proceeds of about $11.2 million. Each unit is composed of one common share and one-half of one common share purchase warrant, which entitles the holder to acquire one common share at $10 per share until Dec. 1, 2023.

Proceeds from the offering will be used to develop the Cariboo gold project, advance the San Antonio gold project toward production and for general corporate purposes.

Price: 8.20, Change: +0.10, Percent Change: +1.23