11:28 AM EST, 12/11/2024 (MT Newswires) -- Osisko Metals ( OMZNF ) on Wednesday said closed a bought-deal private placement offering, raising $107.4 million, including the partial exercise of the over-allotment option.

Osisko issued 70.33-million flow-through units at $0.54 each for $35.4 million in proceeds, and 277-million common-share units at $0.26 each, raising $72 million.

Each FT Unit is is made up of a tax-advantaged share and half a warrant. Each common-share unit consists of a share and half a warrant. Each two-year warrant can buy a share at $0.35.

Proceeds from the common-share units will be used to develop Osisko's assets in Quebec and the Northwest Territories, including the advancement of the Gaspe Copper project to a construction decision, and for general corporate purposes. The FT units will be used to fund exploration at the company's Quebec properties

Osisko Metals ( OMZNF ) shares were last seen up $0.005 to $0.265 on the TSX Venture Exchange.

Price: 0.27, Change: +0.01, Percent Change: +1.92