Osisko Development to Commence Trading on the New York Stock Exchange
May 23 2022 - 6:30AM
Osisko Development Corp. ("
Osisko Development" or
the "
Corporation") (ODV: TSX-V) is pleased to
announce that it has been approved to list its common shares (the
"
Common Shares") on the New York Stock Exchange
("
NYSE"). The Common Shares are expected to
commence trading on the NYSE on May 27, 2022 under the trading
ticker symbol "ODV". Osisko Development will retain its listing on
the TSX Venture Exchange ("
TSXV") under the symbol
"ODV".
Upon the Common Shares commencing trading on the
NYSE, the escrow release condition relating to the subscription
receipts of the Corporation (the "Subscription
Receipts") issued on March 4, 2022, March 29, 2022 and
April 21, 2022 will be satisfied. Upon the satisfaction of such
escrow release condition, a total of US$119.4 million in cash
proceeds will be automatically released by TSX Trust Company, as
subscription receipt agent, to the Corporation, and the
Subscription Receipts will convert, without any action on the part
of the holders thereof, into the underlying securities.
Sean Roosen, Chair and Chief Executive Officer
of Osisko Development, stated: "We are very pleased to announce our
listing on the NYSE, another milestone in positioning Osisko
Development for growth. We continue to focus on value creation for
our shareholders, and listing on the NYSE provides our U.S. based
shareholders with direct trading while also improving our access to
capital."
"We are excited to welcome Osisko Development to
the NYSE community," said John Tuttle, Vice Chair and Chief
Commercial Officer, NYSE Group. "We look forward to working with
the company to deliver the benefits of our unique market model and
world-class services."
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. The considerable exploration
potential at depth and along strike distinguishes the Cariboo Gold
Project relative to other development assets. Osisko Development's
project pipeline is complemented by its interest in the San Antonio
gold project, located in Sonora.
For further information about Osisko Development Corp.,
please contact: |
Sean Roosen, CEOTelephone: (514) 940-0685Email:
sroosen@osiskodev.com |
Jean Francois Lemonde, VP Investor RelationsTelephone: (514)
299-4926Email: jflemonde@osiskodev.com |
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Cautionary Note Regarding
Forward-Looking Information
This news release contains forward-looking
statements within the meaning of applicable Canadian and U.S.
securities laws. These forward-looking statements, by their nature,
require the Corporation 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. 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.
The Corporation considers its assumptions to be reasonable based on
information currently available, but cautions the reader that its
assumptions regarding future events, many of which are beyond the
control of the Corporation, may ultimately prove to be incorrect
since they are subject to risks and uncertainties that affect the
Corporation and its business.
For additional information with respect to these
and other factors and assumptions underlying the forward-looking
statements made in this news release, refer to the Corporation's
most recent Annual information Form filed on SEDAR (www.sedar.com)
under the Corporation's issuer profile and available under the
Corporation's profile at the U.S. Securities and Exchange
Commission's EDGAR website (www.sec.gov). The forward-looking
information set forth herein reflects the Corporation's
expectations as at the date of this news release and is subject to
change after such date. The Corporation 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 TSXV nor its Regulation
Services Provider (as that term is defined in the policies of the
TSXV) 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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