TSXV:OM - Post Discussion
Post by
Goldenwar on Apr 29, 2021 9:27am
6 Million financement !
ORIGINAL: Osisko Metals Closes C$6 Million Private Placement of Flow-Through Shares
2021-04-29 08:27 ET - News Release
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
MONTRAL, April 29, 2021 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the "Corporation" or "Osisko Metals") (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: OB51) is pleased to announce that it has closed its previously-announced brokered private placement, pursuant to which the Corporation sold an aggregate of 12,000,000 common shares of the Corporation that will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) ("Flow-Through Shares") at a price of C$0.50 per Flow-Through Share for aggregate gross proceeds of C$6,000,000, including the exercise in full of the agent's option (the "Offering").
The Offering was led by Haywood Securities Inc., as sole agent and book runner ("Haywood"). In consideration for its services, the Corporation paid Haywood a cash commission equal to 6.0% of the gross proceeds of the Offering.
The gross proceeds from the Offering will be used by the Corporation to incur eligible "Canadian exploration expenses" that will qualify as "flowthrough mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) (the "Qualifying Expenditures") related to the Corporation's Pine Point Zinc Project, located in the Northwest Territories. All Qualifying Expenditures will be renounced in favour of the subscribers of the FlowThrough Shares effective December 31, 2021.
The securities issued under the Offering are subject to a hold period in Canada expiring four months and one day from the closing date of the Offering. The Offering is subject to final acceptance of the TSX Venture Exchange
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