MONTREAL, Dec. 10, 2018 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (OR:TSX & NYSE) (the
"Corporation" or "Osisko") today announces that the Toronto Stock Exchange (the
"TSX") has approved the Corporation's notice of intention to make a normal course issuer bid (the "NCIB
Program"). Under the terms of the NCIB Program, Osisko may acquire up to 10,459,829 of its common shares ("Common
Shares") from time to time in accordance with the normal course issuer bid procedures of the TSX. Any repurchases under
the NCIB Program will be made in Canada through the facilities of the TSX.
Repurchases under the NCIB Program may commence on December 12, 2018 and will terminate on December 11, 2019 or
on such earlier date as the NCIB Program is complete. Purchases of Common Shares under the NCIB Program will be made in Canada
through the facilities of the TSX in accordance with its rules. Daily purchases will be limited to 71,940 Common Shares, other than
block purchase exemptions, representing 25% of the average daily trading volume of the Common Shares on the TSX for the six-month
period ending November 30, 2018, being 287,760 Common Shares.
The price that the Corporation may pay for any Common Shares purchased under the NCIB Program will be the
prevailing market price at the time of purchase and any Common Shares purchased by the Corporation will be cancelled. The board of
directors of Osisko believes that the underlying value of the company may not be reflected in the market price of the Common Shares
from time to time and that, accordingly, the purchase of Common Shares will increase the proportionate interest in the company of,
and be advantageous to, all remaining shareholders of the Corporation.
As of December 6, 2018, there were 156,292,831 Common Shares issued and outstanding. The 10,459,829 Common
Shares that may be repurchased under the NCIB Program represent approximately 10% of the public float of the Corporation as of
December 6, 2018, being 104,598,295 Common Shares.
During the prior NCIB Program of the Corporation, which will end on December 10, 2018, the Corporation obtained
approval to purchase 10,567,441 Common Shares and actually purchased 1,860,299 Common Shares at a weighted average price of
$12.4156 per Common Share through the facilities of the TSX.
Osisko has appointed Macquarie Capital Markets Canada Ltd. to make any purchases under the NCIB Program on its
behalf.
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% net smelter return 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 16.7% interest in Osisko Mining Inc., a 32.4% interest in Barkerville Gold Mines Ltd., a 17.8% interest in Falco
Resources Ltd. and a 10.6% interest in Osisko Metals Incorporated.
Osisko is a corporation incorporated under the laws of the Province of Québec, with its head office is located
at 1100 avenue des Canadiens-de-Montréal, Suite 300, Montréal, Québec, H3B 2S2.
Forward-looking statements
This press release contains forward-looking statements. These forward-looking statements, by their nature,
require the Corporation 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. 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 including the fact that the Corporation "expects", "plans", "anticipates", "believes", "intends", "estimates",
"projects", "potential", "scheduled" and similar expressions or variations (Including negative variations), or that events or
conditions "will", "would", "may", "could" or "should" occur including, without limitation, statements about the board of directors
of Osisko's belief that the NCIB Program is advantageous to shareholders and that underlying value of the Corporation may not be
reflected in the market price of the Common Shares, the Corporation's intentions regarding the NCIB Program, including the number
of Common Shares that may be purchased under the NCIB Program. Although Osisko believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements involve known and unknown risks, uncertainties and
other factors and are not guarantees of future performance and actual results may accordingly differ materially from those in
forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking
statements include, without limitation: fluctuations in the prices of the commodities that drive royalties, streams and offtakes
held by Osisko; fluctuations in the value of the Canadian dollar relative to the U.S. dollar; regulatory changes by national and
local government, including corporate law, permitting and licensing regimes and taxation policies; continued availability of
capital and financing and general economic, market or business conditions; business opportunities that become available to, or are
pursued by Osisko; the impossibility to acquire royalties and to fund precious metal streams; other uninsured risks. The forward
looking statements contained in this press release are based upon assumptions management believes to be reasonable, including,
without limitation: the ongoing operation of the properties in which Osisko holds a royalty or other interest by the owners or
operators of such properties in a manner consistent with past practice; the accuracy of public statements and disclosures made by
the owners or operators of such underlying properties; no material adverse change in the market price of the commodities that
underlie the asset portfolio; no adverse development in respect of any significant property in which Osisko holds a royalty or
other interest and the absence of any other factors that could cause actions, events or results to differ from those anticipated,
estimated or intended.
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 the Corporation, which is filed with (i) the securities regulatory authorities in Canada and available
electronically under Osisko's issuer profile on SEDAR at www.sedar.com, and (ii) 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.
For further information, please contact Osisko Gold Royalties Ltd: