Osisko Critical Minerals Announces C$100 Million Private Placement
News related to:Osisko Critical Minerals Corporation · 2 min read
Osisko Critical Minerals Corporation, a newly incorporated subsidiary of Osisko Metals Incorporated, has announced a significant fundraising effort to support its exploration and development plans in New Brunswick. The company is set to raise C$100 million through a private placement of special warrants, priced at C$0.25 each.
Canaccord Genuity Corp. has been appointed as the lead agent and sole bookrunner for this best-efforts private placement. The funds raised will be used to advance the company's aggressive exploration program on copper assets located in New Brunswick, Canada. The properties, collectively comprising 2,972 mineral claim units, are part of three separate option agreements that Osisko Metals has entered into with various parties.
John Burzynski, the incoming CEO of Osisko Critical Minerals Corporation, expressed confidence in the company's new venture.
The private placement is expected to close on or about November 17, 2026, or on a mutually agreed-upon date. Upon the satisfaction of certain release conditions, each special warrant will automatically convert into one unit of the Corporation, consisting of one common share and one-half of one common share purchase warrant. Each warrant will allow the holder to acquire one common share at an exercise price of C$0.35 per share for a period of 24 months following the closing date.
The release conditions for the private placement include the receipt of a final prospectus qualifying the distribution of the common shares and warrants and the TSX Venture Exchange granting conditional approval to list the common shares and warrants within 180 days of the closing date.
The properties in New Brunswick are described as highly prospective for copper, silver, and gold, with geological characteristics similar to the nearby Gaspé Copper Project. Osisko Metals will transfer the properties to Osisko Critical Minerals Corporation in exchange for common shares of the new company.
Legal advisors for the Corporation in connection with the private placement are Bennett Jones LLP, while Cassels Brock & Blackwell LLP will advise the agents. Osisko Metals will retain an interest in the new company following the completion of the private placement.
The company plans to use the net proceeds from the private placement to fund exploration and development costs of the properties in New Brunswick and to support general working capital and corporate expenses. The private placement is subject to a number of conditions, including the receipt of necessary regulatory approvals and the satisfaction of legal and financial requirements.
Osisko Critical Minerals Corporation is focused on the discovery and development of copper and critical minerals deposits. The corporation's principal assets are the properties in northern New Brunswick, Canada, which include the NB Copper Project, a large-scale exploration target for bulk-tonnage copper deposits.