Loading ...Osisko Development stock rises on $10 million placement; NYSE listing planned
Osisko Development (TSXV: ODV) has received expressions of interest for a non-brokered private placement of up to 2.85 million subscription receipts priced at $3.50 each to raise aggregate gross proceeds of up to $10 million.
Release of funds will be contingent on the completion of the company’s proposed listing of its common shares on the New York Stock Exchange. Osisko may increase the size of the offering by issuing additional subscription receipts in the future, subject to approval of the TSX Venture Exchange.
Each subscription receipt issued entitles the holder to receive one unit of Osisko, each comprising one common share and one common share purchase warrant. The warrants are exercisable at a price of $6.00 per share for a period of five years following the date of issue.
Osisko Development stock rises on $10 million placement; NYSE listing planned