05:03 PM EDT, 09/04/2024 (MT Newswires) -- Osisko Development Corp. ( ODV ) was at last look down 8% in U.S. after-hours trade Wednesday as it announced a non-brokered private placement of units priced at US$1.80.

Each unit is made up of a share and a five-year warrant to buy a second share for US$3.00.

The company did not say how many units were on offer or how much it expects to raise.

The offering is expected to close on Sept.23 and is subject to certain conditions.

The company said it intends to use net proceeds of the offering towards the advancement of its Cariboo Gold Project and Tintic Project, and for general corporate purposes.

The company's shares were last seen down US$0.15 to US$1.84 in U.S. after hours trading. They closed unchanged at $2.69 on the TSX Venture Exchange.