01:56 PM EDT, 10/29/2025 (MT Newswires) -- Osisko Development ( ODV ) shares rose 5.6% on Wednesday after it successfully closed a private-placement offering of share units that raised $82.5 million.

The offering consisted of three tranches and a concurrent private placement. As part of the concurrent private placement, the company issued 6.8-million shares at $4.78 apiece for $32.5 million.

The LIFE offering to qualified investors is made up of 2.99-million National Flow-Through Shares priced at $6.69 per share for $20 million, as well as 1.4-million British Columbia Flow-Through Shares priced at $6.93 each; for $10 million, and 4.2-million common shares at $4.78 apiece for $19.99 million.

Proceeds of the common shares will be used for the construction of the Cariboo Gold Project and for related pre-construction activities while funds from the flow-through shares will be used for exploration expenses.

Shares of the company were last seen up $0.23 to $4.33 on the TSX Venture Exchange.

Price: 4.30, Change: +0.20, Percent Change: +4.88