Osisko Development Corp. Acquires Units of Falco Resources Ltd.

Strategic Insights -

Osisko Development Corp., a Canadian gold development company, has made a strategic investment in Falco Resources Ltd. by acquiring 6,250,000 units at a price of C$0.32 per unit for a total purchase price of C$2,000,000. This acquisition marks a significant milestone in Osisko Development's efforts to expand its portfolio of gold assets in North America.

Osisko Development Corp., through its wholly-owned subsidiary, Barkerville Gold Mines Ltd., acquired the units in connection with a "bought deal" private placement of 41,005,000 units completed by Falco. Each unit consisted of one common share of Falco and one-half of one common share purchase warrant. Following the completion of the private placement, Osisko Development owned approximately 15.9% of Falco's issued and outstanding common shares on a basic non-diluted basis.

Key Takeaways:

  • Osisko Development Corp. acquired 6,250,000 units of Falco Resources Ltd. at a price of C$0.32 per unit for a total purchase price of C$2,000,000.
  • Each unit consisted of one common share of Falco and one-half of one common share purchase warrant.
  • The acquisition was made through a "bought deal" private placement of 41,005,000 units completed by Falco.
  • Following the completion of the private placement, Osisko Development owned approximately 15.9% of Falco's issued and outstanding common shares on a basic non-diluted basis.
  • Osisko Development's wholly-owned subsidiary, Barkerville Gold Mines Ltd., indirectly acquired the units.
  • Osisko Development has filed an early warning report with applicable Canadian securities regulatory authorities and made the report available on SEDAR+.

Statistics:

  • C$2,000,000: Total purchase price for 6,250,000 units acquired by Osisko Development.
  • C$0.32: Price per unit paid by Osisko Development.
  • 41,005,000: Total number of units issued by Falco in the "bought deal" private placement.
  • 16.0%: Approximate percentage of issued and outstanding common shares of Falco on a basic non-diluted basis owned by Osisko Development prior to the Offering.
  • 16.5%: Approximate percentage of issued and outstanding common shares of Falco on a partially diluted basis owned by Osisko Development prior to the Offering.
  • 15.9%: Approximate percentage of issued and outstanding common shares of Falco on a basic non-diluted basis owned by Osisko Development following the Offering.
  • 17.1%: Approximate percentage of issued and outstanding common shares of Falco on a partially diluted basis owned by Osisko Development following the Offering.

Sources:

  • GlobeNewswire, Osisko Development Corp. Acquires Units of Falco Resources Ltd.
  • SEDAR+, Osisko Development Corp. - Early Warning Report.
  • Osisko Development Corp., About Us.
  • Osisko Development Corp., Investor Relations.