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Osisko Development Plans Convertible Notes Offering

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Osisko Development Corp (ODV) said late Wednesday it plans to offer $225 million of convertible senior notes due 2031 in a private placement.

The company said it intends to grant initial purchasers an option to purchase up to an additional $25.0 million of the notes.

Double Zero Capital, an affiliate of Osisko, has indicated an interest in buying up to $50.0 million of the notes in a separate concurrent private placement, it said.

The firm said net proceeds will be used among others for Cariboo Gold Project development and general corporate purposes.

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