Osisko Development Corp. announced it has entered into a credit agreement with funds advised by Appian Capital Advisory Limited for a senior secured project loan credit facility totaling US$450 million. This facility is specifically earmarked for the development and construction of its permitted, 100%-owned Cariboo Gold Project in British Columbia, Canada.
The Credit Facility provides strategic capital and enhanced financial flexibility, structured in two tranches aligned with the project's development timeline. An initial draw of US$100 million has been completed, which will be used to fund a 13,000-meter infill drill campaign, accelerate pre-construction and construction activities, repay an outstanding US$25 million term loan with National Bank of Canada, and support general working capital.
Sean Roosen, Chairman and CEO, stated that this facility represents a key financing commitment and allows the company to maintain momentum towards a formal investment decision for Cariboo. The backing from Appian, a leading investor in the mining space, is a significant endorsement of the project's quality and the management team's vision.
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