OT Osisko Mining closes financings ! Now here is a company that is still in the drill stage, Integra is 5 years ahead of Osisko in development, or we have bean at it longer. Look at the cash they have accumulated and drilling 400,000 mt a year ! ($200-million in cash and investments)
Integra's next financing should be at least $200-million ! IMO
Osisko Mining closes $30.08M, $52.11M financings 2017-02-28 11:23 ET - News Release
Mr. John Burzynski reports
OSISKO MINING COMPLETES $82 MILLION IN EQUITY FINANCINGS OF UNITS AND FLOW-THROUGH SHARES
Further to its announcements on Feb. 6, 2017, Osisko Mining Inc. has completed: (i) a private placement financing of 5.45 million flow-through common shares of the corporation at a price of $5.52 per flow-through share for aggregate gross proceeds of $30,084,000, and (ii) a private placement financing of 15,327,000 units of the corporation at a price of $3.40 per unit for aggregate gross proceeds to the corporation of $52,111,800. Each unit comprises one common share of the corporation and one whole common share purchase warrant of the corporation. Each unit warrant will entitle the holder thereof to purchase one common share of the corporation at a price of $5 per warrant share for a period of 18 months following the closing date of the unit offering.
The corporation intends to use the net proceeds of the unit offering to continue exploration and development of the Windfall Lake gold project, and for corporate purposes. The corporation intends to use the gross proceeds of the flow-through offering to finance Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)) related to Osisko's projects in the province of Quebec.
All securities issued under the unit offering and the flow-through offering will be subject to a hold period expiring four months and one day from the date hereof.
About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration and development of precious metal resource properties in Canada. Osisko holds a 100-per-cent interest in the high-grade Windfall Lake gold deposit located between Val d'Or and Chibougamau in Quebec, and holds a 100-per-cent undivided interest in a large area of claims in the surrounding Urban Barry area (82,400 hectares), a 100-per-cent interest in the Marban project located in the heart of Quebec's prolific Abitibi gold mining district and properties in the Larder Lake mining division in Northeastern Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past-producing mine, and the Gold Pike mine property. The corporation also holds interests and options in a number of additional properties in Northern Ontario. Osisko continues to be well financed with approximately $200-million in cash and investments (after giving effect to the unit offering and flow-through offering).