Osisko Development Corp. announced its intention to satisfy the third of five deferred payments for the Tintic Project acquisition, completed in May 2022, by issuing common shares. The Third Deferred Payment amounts to US$2,500,000, which translates to C$3,432,750 based on a USD/CAD exchange rate of 1.3731.
The company expects to issue 1,368,610 common shares to the sellers at a deemed price of C$2.5082 per common share, calculated based on the 20-day volume-weighted average price as of May 26, 2025. This share issuance is subject to the approval of the TSX Venture Exchange.
This payment mechanism for the Tintic Acquisition is a material financial transaction that affects the company's equity structure. The Tintic Project in Utah, U.S.A., is one of Osisko Development's key assets, complementing its flagship Cariboo Gold Project.
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