Osisko Mining Corporation

Osisko Mining Corporation

February 19, 2009 17:54 ET

Osisko Mining Corporation Files Final Short Form Prospectus

MONTREAL, QUEBEC--(Marketwire - Feb. 19, 2009) -


Osisko Mining Corporation ("Osisko" or the "Corporation"). (TSX:OSK)(FRANKFURT:EWX) announces that it has filed a final short form prospectus with the securities regulatory authorities in certain provinces in Canada in connection with its previously announced public offering of 77,000,000 units (the "Units") of the Corporation at a price of $4.55 per Unit for gross proceeds of $350,350,000. Each Unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one additional common share upon payment of the exercise price of $5.45 until November 17, 2009. The Toronto Stock Exchange has conditionally approved the listing of the Warrants. The Corporation will issue and sell the Units in accordance with the conditions contained in an underwriting agreement entered into with a syndicate of underwriters (the "Underwriters"), led by Thomas Weisel Partners Canada Inc. and BMO Capital Markets.

The Underwriters have been granted an option (the "Over-allotment Option") to purchase an additional 15% of the Units for market stabilization and over-allotment purposes. The Over-allotment Option may be exercised at any time, in whole or in part, until that date which is 30 days following the closing date which has been set for February 25, 2009.

The Corporation intends to use the proceeds of the offering for the development and construction of its Canadian Malartic Project and for working capital purposes.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

Certain statements contained in this press release may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that the Corporation expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "scheduled" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, including, without limitation that all technical, economical and financial conditions will be met in order to put the Canadian Malartic Project into commercial production, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include gold prices, access to skilled consultants, mining development and mill production personnel, results of exploration and development activities, the Corporation's limited experience with production and development stage mining operations, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment, timeliness of government approvals, actual performance of facilities, equipment and processes relative to specifications and expectations, unanticipated environmental impacts on operations market prices, continued availability of capital and financing and general economic, market or business conditions. These factors are discussed in greater detail in the Corporation's most recent Annual Information Form filed on SEDAR, which also provides additional general assumptions in connection with these statements.
The Corporation cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Corporation's forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Corporation believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release.

Contact Information

  • John Burzynski
    Vice-President Corporate Development
    Daniel Boase
    Investor Relations
    Toll Free: 1-866-580-8891