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Osisko Metals Announces Royalty Financing of $5 Million With Osisko Gold Royalties

12.10.2017  |  Marketwired

MONTREAL, QUEBEC--(Marketwired - Oct 12, 2017) - Osisko Metals Inc. (the "Company" or "Osisko Metals") (TSX VENTURE:OM)(FRANKFURT:OB5) is pleased to announce that it has entered into an agreement (the "Agreement") with Osisko Gold Royalties Ltd. ("Osisko Gold") whereby Osisko Gold will acquire a 1% net smelter return royalty on Osisko Metals' current portfolio of projects within both the Bathurst Mining Camp ("BMC") and Quebec, for a cash consideration of C$5 million. The acquired royalty will also apply to areas that Osisko Metals may acquire in the future that fall within a one kilometer distance from their current property holdings. Osisko Gold will also acquire existing royalty buy-back agreements on current projects and will hold rights of first refusal on any future royalty or metal stream sale from existing or newly acquired properties by Osisko Metals.

The current Agreement is expected to close on or around October 18, 2017, subject to regulatory approvals. Osisko Gold Royalties Ltd. is considered as an insider and the Corporation intends to rely on exemptions from the "formal valuation" and "minority approval" requirements of MI 61-101 in respect of the "related party transaction".

Jeff Hussey, President and CEO of Osisko Metals, stated: "This royalty financing with Osisko Gold Royalties represents the final stage of 2017 financings, all successfully completed since listing Osisko Metals last June. The Company has now raised a total of C$41.5 million to implement new acquisitions, exploration and drilling programs, mostly within the BMC. Osisko Gold's investment in our Company underlines their confidence in our ability to upgrade and expand the slate of historical zinc-lead-copper deposits in our BMC properties into NI43-101 compliant resources, and to further increase shareholder value through strategic property acquisitions."

About Osisko Metals

Osisko Metals is a Canadian exploration and development company creating value in the base metal markets with an emphasis on the zinc space. In 2017, the Company acquired over 50,000 hectares in the Bathurst Mining Camp ("BMC"). The objective is to develop a multi-deposit asset base that would feed a central concentrator. In parallel, Osisko Metals is monitoring several base metal oriented peers for projects hosting zinc, copper, and nickel for acquisition opportunities. In Québec, the Company acquired 42,000 hectares that cover 12 grass-root zinc targets that will be selectively advanced through exploration. Osisko Gold Royalties Ltd. (TSX:OR)(NYSE:OR) and Osisko Mining Inc. (TSX:OSK) are significant shareholders of the Company, with Osisko Gold Royalties currently holding a 12.8% interest.

For further information on Osisko Metals, visit www.osiskometals.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the use of proceeds of the Offering; the timing and ability of the Corporation, if at all, to obtain final approval of the Offering from the TSX Venture Exchange; an exemption being available under MI 61-101 and Policy 5.9 of the TSX Venture Exchange from the minority shareholder approval and valuation requirements for each related party transaction; objectives, goals or future plans; statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation's public documents filed on SEDAR at www.sedar.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.



Contact

Jeff Hussey
President & CEO
Osisko Metals Inc.
(514) 861-4441
info@osiskometals.com
Christina Lalli
Director, Investor Relations
Osisko Metals Inc.
(514) 861-4441
info@osiskometals.com
www.osiskometals.com


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