05:06 PM EDT, 10/09/2025 (MT Newswires) -- Osisko Development ( ODV ) on Thursday said it upsized a bought-deal LIFE offering and added a concurrent private placement, bringing the total financing to $60 million, up from its prior $30 million target.

The company said the increase reflects excess subscription demand under the original terms.

Under the revised structure, Osisko will issue three tranches of shares eligible under the LIFE exemption for an aggregate of $50 million, which consists of 2.99-million national flow-through shares priced at $6.69 each, 1.44 million British Columbia flow-through shares at $6.93 each, and 4.18-million shares at $4.78 each.

Concurrently, the company will complete a bought-deal private placement of 2.09-million shares at $4.78 per share, raising approximately $10 million.

Osisko said it plans to allocate roughly $30 million of net proceeds toward capital needs for the Cariboo Gold Project and pre-construction work.

The remaining proceeds and the use of flow-through share funds will adhere to previously disclosed plans.

Shares of Osisko Development ( ODV ) closed down $0.45 to $4.78 on the TSX Venture Exchange.