Osisko Development Appoints Martin Ménard as Vice-President, Engineering and Construction and Announces Grant of Stock Options and RSUs to Officers
August 16 2021 - 5:00PM
Osisko Development Corp. (“
Osisko Development” or
the “
Company”) is pleased to announce the
appointment of Mr. Martin Ménard as Vice-President, Engineering and
Construction.
Mr. Ménard brings fifteen years of experience in
various engineering and management roles on energy, mining and
mineral processing projects worldwide, including most recently as
Chief Operating Officer at AEX Gold Inc. He has held leading
technical & managerial roles, notably for Newmont Mining on
their Merian Project in Suriname and IAMGOLD on their Essakane
project in Burkina Faso. He earned a Master’s of Science degree in
Economics from the Universitat Pompeu Fabra and a Bachelor degree
in Electrical Engineering from the McGill University.
The Company also announces that incentive stock
options have been granted to officers to purchase 103,900 common
shares at a price of $5.63 for five years with vesting terms of one
third of the total grant at each of the first three anniversaries
of such grant. These options have been granted in accordance with
the Company’s Stock Option Plan. The Company has also granted an
aggregate total of 78,700 restricted share units
(“RSUs”) to officers in accordance with the RSU
Plan of the Company. The RSUs are subject to the following vest
terms: one half (1/2) is time-based and vests on the third
anniversary of such grant while the remaining half (1/2) , which
also vests on the third anniversary of such grant, is subject to
the achievement of approved long-term objectives over a three-year
period.
About Osisko Development Corp.
Osisko Development Corp. is well-capitalized and
uniquely positioned as a premier gold development company in North
America to advance the Cariboo Gold Project and other Canadian and
Mexican properties, with the objective of becoming the next
mid-tier gold producer. The Cariboo Gold Project, located in
central British Columbia, is Osisko Development's flagship asset
with measured and indicated resources of 21.44 Mt at 4.6 Au g/t for
a total of 3.2 million ounces of gold and inferred resource of
21.69 Mt at 3.9 Au g/t for a total of 2.7 million ounces of
gold (see NI 43-101 Technical Report for resource October 5th,
2020). The considerable exploration potential at depth and along
strike distinguishes the Cariboo Gold Project relative to other
development assets as does the historically low, all-in discovery
costs of US $19 per ounce. The Cariboo Gold Project is
advancing through permitting as a 4,750 tonnes per day underground
operation with a feasibility study on track for completion in the
first half of 2022. Osisko Development's project pipeline is
complemented by potential near-term production targeted from the
San Antonio gold project, located in Sonora Mexico and early
exploration stage properties including the Coulon Project and James
Bay Properties located in Québec as well as the Guerrero Properties
located in Mexico. Osisko Development began trading on the TSX
Venture Exchange under the symbol "ODV" on December 2,
2020.
For further information,
please contact Osisko Development Corp.: |
Jean Francois LemondeVP Investor
Relationsjflemonde@osiskodev.comTel: 514-299-4926 |
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
Development 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. 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, including with respect to the
development and exploration potential of the Cariboo Gold Project
and other Canadian and Mexican properties, Osisko Development
becoming the next mid-tier gold producer and the timely completion
and outcome of the Cariboo Gold Project feasibility study, as well
as other considerations that are believed to be appropriate in the
circumstances. Osisko Development 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 Development, may ultimately
prove to be incorrect since they are subject to risks and
uncertainties that affect Osisko Development and its business. Such
risks and uncertainties include, among others, risks relating to
the ability of exploration activities (including drill results) to
accurately predict mineralization; errors in management’s
geological modelling; the ability of to complete further
exploration activities, including drilling; property and royalty
interests in the Cariboo gold deposit; the ability of the
Corporation to obtain required approvals; the results of
exploration activities; risks relating to mining activities; the
global economic climate; metal prices; dilution; environmental
risks; and community and non-governmental actions and the responses
of relevant governments to the COVID-19 outbreak and the
effectiveness of such responses.
For additional information with respect to these
and other factors and assumptions underlying the forward‐looking
statements made in this news release concerning Osisko Development,
see the Filing Statement available electronically on SEDAR
(www.sedar.com) under Osisko Development's issuer profile. The
forward‐looking statements set forth herein concerning Osisko
Development reflect management's expectations as at the date of
this news release and are subject to change after such date. Osisko
Development 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.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release. No stock exchange,
securities commission or other regulatory authority has approved or
disapproved the information contained herein.
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