09:34 AM EDT, 08/15/2025 (MT Newswires) -- (Updates with recent stock movement in the last paragraph)

Osisko Development ( ODV ) said Friday it has closed a $203 million private placement of about 99.1 million of its units priced at $2.05 per unit.

The offering consists of a "bought deal" brokered private placement of around 58.6 million units for gross proceeds of about $120 million and a non-brokered private placement of about 40.5 million units for gross proceeds of about $83 million.

Each unit consists of one common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of one common share at $2.56 around Aug. 15, 2027, the company said.

Osisko also said it intends to use the net proceeds to finance the broadly distributed equity portion of the capital required to construct the Cariboo Gold Project and for general corporate purposes.

Shares of the company were slightly lower in early trading Friday.

Price: 2.62, Change: +0.03, Percent Change: +1.16