Montreal (pcJ News Briefs) – Osisko Mining Inc. (TSX: OSK) has closed a private placement financing of 700,000 flow-through common shares at a price of $7.15 per flow-through share for gross proceeds of $5,005,000.
The offering was underwritten by Canaccord Genuity Corp. and Eight Capital, as co-lead underwriters.
Osisko Mining intends to use the gross proceeds to fund “Canadian exploration expenses” related to Osisko’s projects in Ontario, specifically the Jonpol and Garrcon deposits on the Garrison property located in the Larder Lake Mining Division in northeast Ontario.
Osisko Mining Inc. holds a 100% in the high-grade Windfall Lake gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry and Lebel-sur-Quévillon areas, a 100% interest in the Marban project located in the heart of Québec’s prolific Abitibi gold mining district, and properties in Ontario, including the Jonpol and Garrcon deposits on the Garrison property. Osisko is well financed with approximately $190 million in cash and investments.
photo credit: Osisko Mining