Early Warning News Release
January 07 2022 - 6:00PM
Osisko Development Corp. (“
Osisko Development” or
the “
Company”) (TSX.V-ODV) announces that it has
disposed of a total of 34,290,000 common shares Minera Alamos Inc.
(TSXV:MAI) (“
Minera Alamos”), at a price ranging
from $0.50 to $0.57 per common pursuant to market dispositions
performed from October 25, 2021 to December 29, 2021 for gross
proceeds of $18,532,170 (the “
Transaction”).
Immediately prior to the closing of the
Transaction, the Company held, directly or indirectly, 76,080,000
common shares of Minera Alamos representing approximately 17.1% of
Minera Alamos’ issued and outstanding common shares prior to the
closing.
Immediately following the closing of the
Transaction, Company owned, directly or indirectly, 41,790,000
common shares of Minera Alamos representing approximately 9.4% of
the issued and outstanding common shares of Minera Alamos.
The Company disposed of the securities described
in this press release in accordance with applicable securities
laws, the Company may, from time to time and at any time, acquire
common shares and/or other equity, debt or other securities or
instruments (collectively, “Securities”) of Minera
Alamos 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
Minera Alamos and other relevant factors.
A copy of the early warning report to be filed
by the Company in connection with the Transaction described above
will be available on SEDAR under Minera Alamos’ profile. This news
release is issued under the early warning provisions of the
Canadian securities legislation.
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 Relations
jflemonde@osiskodev.com Tel: 514-299-4926
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 press release.
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