From Financialpost · · 1m 10s
Osisko Gold Completes $30m Trafigura Investment
Osisko Gold closes $30m strategic equity deal with Trafigura affiliate.
In brief
Osisko Gold closes $30m strategic equity deal with Trafigura affiliate. Osisko Gold completed a $30 million equity investment by Trafigura affiliate Urion, issuing 9,554,141 shares at $3.14 each for the Cariboo Gold Project development. Originally reported by Financialpost.
Osisko Gold Announces Investment
Osisko Gold Group Inc. closed a previously announced $30 million strategic equity investment by Trafigura affiliate Urion Investments Holdings Limited.
Investment Terms
The Company issued 9,554,141 common shares at $3.14 per share, representing a 10% premium to the five-day volume weighted average price.
Investment Details
The investment generated approximately $30 million in gross proceeds and remains subject to final acceptance by the TSX Venture Exchange.
Voting Agreement
Urion entered into a voting support agreement to vote shares in accordance with board recommendations, with standstill and lock-up provisions.
Project Use
The Company plans to use net proceeds for Cariboo Gold Project development, with shares subject to a four-month hold period.
Post-Investment Position
After completion, Osisko Gold expects 315,809,214 shares outstanding, with Urion holding approximately 3.0% on a non-diluted basis.
What matters most
Osisko Gold completed a $30 million equity investment by Trafigura affiliate Urion, issuing 9,554,141 shares at $3.14 each for the Cariboo Gold Project development.
