Mr. Joseph de la Plante of Osisko reports
OSISKO GOLD ROYALTIES LTD. EARLY WARNING REPORT
Osisko Gold Royalties Ltd. has subscribed for and received from IDM Mining Ltd. 16,666,668 units at a price of six cents per unit, for an aggregate subscription price of $1,000,000.08. Each unit is composed of one common share in the share capital of IDM and one-half of one common share purchase warrantof IDM.Each warrant entitles the holder to acquire one common share at a purchase price of 8.5 cents for a period of 24 months from the date of issue as per the previously announced non-brokered private placement.The private placement was originally announced on Oct. 5, 2018, and upsized on Oct. 23, 2018.
Immediately prior to the closing of the private placement, Osisko held 77,987,098 common shares, representing approximately 16.2 per cent of the issued and outstanding common shares. Immediately following the closing of the private placement, Osisko owns, beneficial ownership of, or control and direction over (i) 94,653,766 common shares, representing approximately 18.2 per cent of the issued and outstanding common shares; and (ii) 8,333,334 warrants.Assuming the exercise of the warrants, Osisko would own 102,987,100 common shares, representing approximately 19.5 per cent of the common shares that would then be issued and outstanding.
Osisko acquired the units described in this press release for investment purposes and in accordance with applicable securities laws, Osisko may, from time to time and at any time, acquire additional common shares and/or other equity, debt or other securities or instrumentsof IDM in the open market or otherwise, and reserves the right to dispose of any or all of its securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the securities, the whole depending on market conditions, the business and prospects of IDM and other relevant factors.
A copy of the early warning report to be filed by Osisko in connection with the private placement described above will be available on SEDAR under IDM's profile. This news release is issued under the early warning provisions of the Canadian securities legislation.
About Osisko Gold Royalties Ltd
Osisko is an intermediate precious metal royalty company that holds a North American-focused portfolio of over 130 royalties, streams and precious metal offtakes. Osisko's portfolio is anchored by its 5-per-cent 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 32.4-per-cent interest in Barkerville Gold Mines, a 17.9-per-cent interest in Osisko Mining Inc., a 15.5-per-cent interest in Victoria Gold Corp., a 12.6-per-cent interest in Falco Resources Ltd. and an 11.4-per-cent interest in Osisko Metals Inc.
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