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Osisko Development Now Off Restriction at National Bank of Canada

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National Bank of Canada on Friday reiterated its outperform rating on the shares of Osisko Development (ODV.V) with a C$8.00 price target as it came off restriction after the miner priced a US$275.0 million notes offering.

The offering consists of 4.125% convertible senior notes due 2031 at US$3.68, a 25% conversion premium to the May 20 close price being offered as a private placement to qualified institutional buyers.

Osisko also granted initial purchasers of the notes an option to purchase up to an additional US$25.0 million.

The offering and the private placement are expected to close May 26 and May 29, respectively.

Price: $3.72, Change: $-0.04, Percent Change: -1.06%

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