Osisko Critical Minerals has increased its private placement of special warrants from C$100 million ($100 million) to C$250 million due to investor demand.
The company, a wholly owned subsidiary of Osisko Metals (TSX:OM), announced the upsize on Tuesday. Canaccord Genuity acts as lead agent and sole bookrunner for the syndicate managing the offering.
All other terms remain unchanged from the original announcement on 16 September.
Incoming CEO John Burzynski says the increase reflects investor interest in the New Brunswick exploration portfolio.
“We look forward to completing this upsized offering to capitalise this new venture and to advancing our exploration program on these highly prospective copper assets and our larger critical minerals strategy,” Burzynski notes.
Osisko Critical Minerals holds about 645km2 of mineral claims in northern New Brunswick, Canada, including the NB Copper Project.
The company says the project hosts large-scale targets for bulk-tonnage copper deposits in a geological setting analogous to the nearby Gaspé Copper Project in Québec.
The placement remains subject to completion of legal and tax structuring, financial analysis, definitive documentation, and regulatory approvals. The company notes there is no certainty that securities will list on any stock exchange.
Bennett Jones advises Osisko Metals, Peterson McVicar advises Osisko Critical Minerals on corporate matters, and Cassels Brock & Blackwell represents the agents.
Write to JC Villarba at Mining.com.au
Images: Osisko Metals
