MONTREAL, QUEBEC--(Marketwired - Oct. 26, 2017) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION TO THE UNITED STATES
Osisko Gold Royalties Ltd (the "Company" or "Osisko") (TSX:OR)(NYSE:OR) is pleased to
announce that, in connection with its previously announced C$284 million offering (the "Offering") of
convertible senior unsecured debentures (the "Debentures") which consists of a public offering and a private
placement, the underwriters have exercised their option to increase the size of the private placement of Debentures (the
"Private Offering") by C$16 million, for total gross proceeds from the Offering of C$300 million.
As a result, Osisko is pleased to announce that Ressources Québec inc., a wholly-owned subsidiary of Investissement Québec,
has committed to purchase C$16 million of Debentures through the Private Offering on the same terms and conditions as the C$184
million public offering of Debentures.
The Debentures will bear interest at a rate of 4.00% per annum, payable semi-annually on June 30 and December 31 each year,
commencing on June 30, 2018. The Debentures will be convertible at the holder's option into Osisko common shares at a conversion
price of C$22.89 per common share (representing a conversion premium of approximately 40% to the reference price of C$16.35 and a
conversion rate of 43.6872 Osisko common shares per C$1,000 principal amount of debentures). The Debentures will mature on
December 31, 2022 and may be redeemed by Osisko, in certain circumstances, on or after December 31, 2020.
The net proceeds from the Offering will be used to fund the acquisition of precious metal royalties and streams, working
capital, and general corporate purposes.
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 Gold Royalties Ltd is an intermediate precious metal royalty company focused on the Americas that commenced activities
in June 2014. Osisko holds a North American focused portfolio of over 130 royalties, streams and precious metal offtakes.
Osisko's portfolio is anchored by five cornerstone assets, including a 5% NSR royalty on the Canadian Malartic mine, which is the
largest gold mine in Canada. Osisko also owns a portfolio of publicly held resource companies, including a 15.6% interest in
Osisko Mining Inc., a 12.8% interest in Osisko Metals Incorporated, a 13.3% interest in Falco Resources Ltd. and a 32.8% interest
in Barkerville Gold Mines Ltd.
Osisko's head office is located at 1100 Avenue des Canadiens-de Montréal, Suite 300, Montréal, Québec, H3B 2S2
Forward-looking statements
Certain statements contained in this press release may be deemed "forward ‐ looking statements" within
the meaning of applicable Canadian and U.S. securities laws. These forward ‐ looking statements, by their
nature, require Osisko to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could
cause actual results to differ materially from those expressed or implied in these forward ‐ looking
statements. Forward ‐ looking statements are not guarantees of performance. These forward ‐
looking statements, may involve, but are not limited to, comments with respect to the directors and officers of Osisko. Words
such as "may", "will", "would", "could", "expect", "believe", "plan", "anticipate", "intend", "estimate", "continue", or the
negative or comparable terminology, as well as terms usually used in the future and the conditional, are intended to identify
forward ‐ looking statements. Information contained in forward ‐ looking statements is based
upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including
management's perceptions of historical trends, current conditions and expected future developments, as well as other
considerations that are believed to be appropriate in the circumstances. Osisko considers its assumptions to be reasonable based
on information currently available, but cautions the reader that their assumptions regarding future events, many of which are
beyond the control of Osisko, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect
Osisko and its business.
For additional information with respect to these and other factors and assumptions underlying the forward ‐
looking statements made in this press release, see the section entitled "Risk Factors" in the most recent Annual Information
Form of Osisko which is filed with the Canadian securities commissions and available electronically under Osisko's issuer profile
on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission
and available electronically under Osisko's issuer profile on EDGAR at www.sec.gov. The forward ‐ looking information set forth herein reflects Osisko's
expectations as at the date of this press release and is subject to change after such date. Osisko disclaims any intention or
obligation to update or revise any forward ‐ looking statements, whether as a result of new information, future
events or otherwise, other than as required by law.