08:22 AM EDT, 10/14/2024 (MT Newswires) -- Osisko Development ( ODV ) said Monday it closed the final tranche of non-brokered private placement under which it issued a total of about 19.2 million units of the company at $1.80 apiece for roughly $34.5 million in gross proceeds.

Each unit has one common share of the company and one common stock purchase warrant, the gold development company said.

Osisko plans to use the net proceeds for the development of its Cariboo Gold Project and Tintic Project, partial repayments of its current credit facility, and for general corporate purposes, it added.