04:29 PM EDT, 10/09/2024 (MT Newswires) -- Osisko Mining Inc. ( OBNNF ) at the close of trade Wednesday said Northern Star Resources will convert its $154- million convertible senior unsecured debenture, due Dec. 1, 2025, into 38.5-million shares priced at $4.00 apiece ahead of the company's sale to Gold Fields ( GFI ) .

Northern Star chose to convert the debenture to become a shareholder ahead of the sale to Gold Fields ( GFI ), which plans to acquire all outstanding shares of Osisko. However the shares issued to Northern Star will not be eligible to vote on the arrangement at the Oct. 17 special meeting since they were issued after the record date.

Per the arrangement, each shareholder will receive C$4.90 per share upon completion, the company added.

Osisko shares closed up $0.01 to $4.88 on the Toronto Stock Exchange.