Osisko Development's $143.8 Million Public Offering Completed

MONTREAL, Feb. 03, 2026 (GLOBE NEWSWIRE) -- Osisko Development Corp. (NYSE: ODV, TSXV: ODV) ("Osisko Development" or the "Company") is pleased to announce that it has completed its previously announced prospectus offering (the "Offering") of common shares of the Company (the "Common Shares"). The Offering was completed on a "bought deal" basis, pursuant to an underwriting agreement dated January 27, 2026, among the Company and a syndicate of underwriters comprising National Bank Capital Markets, RBC Capital Markets and Cantor, as co-lead underwriters and co-bookrunners, and BMO Capital Markets (collectively, the "Underwriters"). Pursuant to the Offering, the Company issued an aggregate of 40,607,650 Common Shares at a price of US$3.54 per Common Share for aggregate gross proceeds of US$143,751,081, including the exercise in full by the Underwriters of their over-allotment option.

Osisko Development has recently finalized a significant public offering, raising a total of US $143.8 million through the sale of common shares. This offering was executed as a bought deal, which means investors had committed to purchasing the shares prior to the public announcement. The company has reported that the offering was oversubscribed, indicating a robust demand from investors.

The offering included provisions for an 'over-allotment option,' which is a common feature in public offerings that allows underwriters to sell additional shares beyond the initial offering size, providing the company with extra capital. This option was fully exercised during the offering, further amplifying the funds raised.

Osisko Development plans to use the proceeds from this financing to advance various projects, particularly those related to its gold mining operations. The company has been focused on enhancing its operational capabilities and believes this influx of capital will enable them to accelerate growth and expand their exploration efforts.

This financing comes at a time when the mining sector is witnessing renewed interest from investors, driven by higher gold prices and the sector's potential for significant returns. Many companies in the mining industry are looking to bolster their liquidity to withstand market fluctuations and to invest in capital projects that can yield long-term benefits.

Overall, Osisko Development's public offering is seen as a strategic move to position the company for future success in the competitive mining landscape. With the raised funds, they aim to optimize their existing operations, explore new opportunities, and return value to shareholders.