Osisko Rejuvenates Its Executive Team
February 11 2020 - 8:00AM
Osisko Gold Royalties Ltd (TSX & NYSE:OR)
(“
Osisko”) is pleased to announce that the board
of directors has appointed Mr. Frédéric Ruel as Chief
Financial Officer and Vice President, Finance, Mr. Iain Farmer
as Vice President, Corporate Development and Mr. Benoit Brunet as
Vice President, Business Strategy. The appointment of
Messrs. Ruel, Farmer and Brunet will be effective as of
February 20, 2020, following the release of the annual
consolidated financial statements.
Mr. Sean Roosen, Chair and CEO stated: “I’m
extremely pleased that with today’s announcement, our executive
team is revamped. Under the leadership of our newly appointed
President, Osisko is poised for its next phases of growth. I
congratulate Frederic and Iain for taking the next natural, and
well deserved, steps in their Osisko careers. And I welcome Benoit
to our team and expect his private equity skillset to be a true
complement as we evolve the North Spirit Discovery Group.”
Mr. Frédéric Ruel has served as Vice
President, Corporate Controller of Osisko since 2015 and provides a
seamless transition to the role of Chief Financial Officer and Vice
President, Finance. Mr. Ruel has been involved in the
mining industry for over 12 years. He is a seasoned financial
professional with over 20 years of experience in financial
reporting and finance. He also held different positions with
other public companies in the mining industry, including Chief
Financial Officer of NioGold Mining Corporation, Vice President,
Corporate Controller of Falco Resources Ltd. and Manager of
Financial Reporting of Osisko Mining Corporation and Consolidated
Thompson Iron Mines. Frédéric began his career as an auditor
in a premier Canadian accounting firm where he worked for over 7
years. He is a member of the Ordre des Comptables
Professionnels Agréés du Québec and holds a Master in Accounting
from the Université de Sherbrooke.
Mr. Iain Farmer has been involved in the
mining industry for 9 years having most recently served as Director
of Evaluations for Osisko where his responsibilities included
financial and technical evaluation of investments as well as
origination and execution of transactions. Prior to joining
Osisko, Iain worked in equity research covering the mining
sector. Iain holds a Bachelor’s and a Master’s degree in
Mining Engineering from McGill University as well as an MBA from
Concordia University’s Goodman School of Investment Management, he
has been a CFA Charterholder since 2016.
Mr. Benoit Brunet joins Osisko from the
Québec Private Equity group of the Caisse de dépôt et placement du
Québec (the “Caisse”), one of the largest North American
institutional investor where he helped deploy $700 million in the
mining sector across the province of Québec. He was recently
overseeing investments totaling approximately $1.5 billion and
known for having structured innovative financial instruments for
some of the largest mining projects in the region.
Mr. Brunet has worked closely with Osisko’s management team
for the last several years and has a deep knowledge of Osisko’s
portfolio of assets. Prior to joining the Caisse, Mr. Brunet
worked at PricewaterhouseCoppers LLP for the assurance group in
Montréal. Mr. Brunet holds a CPA designation, an undergraduate
and graduate degree in public accounting from the Université du
Québec à Montréal.
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 135 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 and a 100%
interest in the Cariboo gold project which is expected to be
advanced through the North Spirit Discovery Group platform. Osisko
also owns a portfolio of publicly held resource companies,
including a 15.9% interest in Osisko Mining Inc., 17.9% interest in
Osisko Metals Incorporated and a 19.9% interest in Falco Resources
Ltd.
For further information, please contact
Osisko Gold Royalties Ltd:
Sandeep SinghPresidentTel. (514) 940-0670ssingh@osiskogr.com
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, the ability of Osisko to realize the full potential
of its investments in the Cariboo project through the development
thereof in a timely manner and on terms acceptable to 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; such risks
and uncertainties include, among others, risks relating to the
ability of Osisko to continue the development of its projects.
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.
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