Osisko Gold Royalties Ltd (TSX & NYSE:OR)
(“
Osisko”) announces that it has subscribed for
and received from Carbon Streaming Corporation (“
Carbon
Streaming”) 4,000,000 special warrants (the
“
Special Warrants”) at a price of US$1.00 per
Special Warrant, for an aggregate subscription price of
US$4,000,000 pursuant to a non-brokered private placement (the
“
Transaction”). Each Special Warrant will entitle
the holder to receive, subject to adjustment in certain
circumstances and without payment of additional consideration,
units of Carbon Streaming comprised of one common share (a
“
Share”) and one common share purchase warrant (a
“
Warrant”) upon the exercise or deemed exercise of
each Special Warrant. Each Warrant will entitle the holder to
acquire one additional common share (a “
Warrant
Share”) at a price of US$1.50 per Warrant Share and
expiring sixty-two (62) months from the date of issue.
Immediately prior to the closing of the
Transaction, Osisko had beneficial ownership of, or control and
direction over (i) 6,750,000 Shares; and (ii) 6,000,000 Warrants,
representing approximately 11.66% of the issued and outstanding
common shares of Carbon Streaming on a partially diluted basis
assuming full exercise of Osisko’s Warrants.
Immediately after giving effect to the
Transaction, Osisko had beneficial ownership of, or control and
direction over: (i) 6,750,000 Shares; (ii) 6,000,000 Warrants and
4,000,000 Special Warrants, representing approximately 9.51% of the
issued and outstanding Shares on a partially diluted basis assuming
full exercise of Osisko’s Warrants, including those underlying the
Special Warrants.
Osisko acquired the securities 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 instruments (collectively,
“Securities”) of Carbon Streaming and reserves the
right to dispose of any or all of its Securities 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 Carbon Streaming and
other relevant factors.
This news release is issued under the early
warning provisions of the Canadian securities legislation. A copy
of the early warning report to be filed by Osisko in connection
with the Transaction described above will be available on SEDAR
under Carbon Streaming’s profile.
About Osisko Gold Royalties
Ltd
Osisko 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 150
royalties, streams and precious metal offtakes. Osisko’s portfolio
is anchored by its cornerstone asset, a 5% net smelter return
royalty on the Canadian Malartic mine, which is the largest gold
mine in Canada.
Osisko’s head office is located at 1100 Avenue
des Canadiens-de-Montréal, Suite 300, Montréal, Québec, H3B
2S2.
For further information, please contact
Osisko Gold Royalties Ltd:
Heather Taylor Vice President, Investor
Relations Tel: (514) 940-0670 #105 Email: htaylor@osiskogr.com
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