07:53 AM EDT, 06/03/2024 (MT Newswires) -- Osisko Development ( ODV ) said on Monday that it will complete the second of five deferred payments in connection with its purchase of the Tintic project in Utah in May 2022.

The second deferred payment of US$2.5 million ($3.4 million) is expected to be paid entirely in common shares at a price of C$2.7829 apiece, resulting in the issuance of about 1.2 million common shares.

Osisko Development ( ODV ), which rose 0.4% in Canada on Friday, gained 2.5% in premarket U.S. trading on Monday.