Osisko Arranges Flow Through Financing.MONTREAL -- Osisko Exploration Ltd. (TSX-V:OSK OSK On Screen Keyboard OSK Osaka Shosen Kaisha (Japanese shipping line) OSK One Shot Kill (gaming clan) OSK Oslo Seilflyklubb (Norwegian: Oslo Gliding Club) ) (Deutsche Boerse:EWX) is pleased to announce that it has engaged Canaccord Capital Corp., as agents for a private placement, to undertake, on a best-efforts basis best-efforts basis 1. An agreement by an investment banker to do its best to oversee but not guarantee the sale of a security issue in the primary market. See also underwriter. 2. , a private placement to raise gross proceeds of $251,250 with a group of accredited investors Accredited Investor A term used by the Securities and Exchange Commission (SEC) under Regulation D to refer to investors who are financially sophisticated and have a reduced need for the protection provided by certain government filings. Also known as "qualified purchaser". . In connection with the private placement, Osisko will issue 753,750 flow-through common shares at 30 cents per common shares and 83,750 common shares at 30 cents per common share. Each flow-through common share will be flow-through share as defined in subsection subsection Noun any of the smaller parts into which a section may be divided Noun 1. subsection - a section of a section; a part of a part; i.e. 66(15) of the Income Tax Act (Canada). Osisko will pay the agent, in cash, a commission equal to 10 per cent of the gross proceeds, and will also issue 83,750 common share purchase warrants to the agent, each warrant entitling the agent to acquire one common share in the capital of Osisko at an exercise price of 30 cents per common share for a period of twenty four months from the closing date. The proceeds from the offering will be used for general working capital and for exploration on Osisko's Barry and Malartic properties located in the Abitibi region of Quebec. The proposed private placement is subject to regulatory approval. OSISKO EXPLORATION LTD. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:OSK) |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion