Osisko Development Corp. successfully closed a private placement on August 15, 2025, issuing 99,065,330 Units at US$2.05 apiece, for aggregate gross proceeds of approximately US$203 million (C$281 million). The financing comprised a brokered placement of 58,560,000 Units for about US$120 million (C$166 million), and a non-brokered placement of 40,505,330 Units for about US$83 million (C$115 million). This included a significant subscription by Double Zero Capital LP of approximately US$75 million (C$104 million), representing roughly 15.4% of the Company’s issued and outstanding common shares post-closing on a non-diluted basis.

Each Unit consists of one common share and one-half of a warrant. Each whole warrant entitles the holder to purchase one common share at US$2.56, exercisable until August 15, 2027, subject to acceleration if share price conditions are met.

The net proceeds are intended to fund the equity portion of capital required for construction of the Cariboo Gold Project and for general corporate purposes. Together with the previously announced US$450 million (C$622 million) project loan facility from Appian Capital Advisory and other potential financing arrangements, the Company believes sufficient funding is now secured to advance construction.

The Brokered Offering was led by BMO Capital Markets and RBC Capital Markets, as joint lead managers and joint bookrunners, and Cantor Fitzgerald Canada Corporation, as co-lead underwriter, on behalf of a syndicate of underwriters including National Bank Financial Inc. and Ventum Financial Corp. (collectively, the “Underwriters”). Legal advisors were Cassels for the Underwriters and Bennett Jones for Osisko Development.