Osisko Development Announces Amendments to Its Employee Share Purchase Plan
December 21 2021 - 8:30AM
Osisko Development Corp. (“
Osisko Development” or
the “
Company”) (TSX.V-ODV) announces that the
directors of the Company have approved amendments to the Company’s
employee share purchase plan (the “
Plan”) in order
to accelerate the vesting provisions of the shares granted
thereunder, subject to a holding period, and to clarify existing
provisions of the Plan, without altering the scope, nature and
intent of such provisions (the “
Amendments”).
In accordance with the provisions of the Plan
and the policies of the TSX Venture Exchange
(“TSXV”), the Amendments are not subject to
shareholders approval but remain subject to the final approval of
the TSXV.
About Osisko Development Corp.
Osisko Development Corp. is 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 and mineral resource estimate effective 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 and the
Company’s 14,789,373 outstanding share purchase warrants were
listed on the TSX Venture Exchange under the symbol “ODV.WT” on
October 25, 2021.
For further information, please contact
Osisko Development Corp.:
Jean Francois Lemonde VP Investor
Relationsjflemonde@osiskodev.com Tel: 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, 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. 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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