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FINWIRES

Osisko Gold Prices $600 Million Offering of Senior Notes

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Osisko Gold Group (OGG.V) has priced an offering of $600 million of 9.250% senior secured notes due 2031 at an issue price of 100%.

The offering was launched to refinance a senior secured project loan facility, the company said Wednesday.

About $120.9 million of the net proceeds will be used to repay the Appian credit facility. The rest will be used to fund a segregated interest reserve account.

The offering, which was upsized from $500 million, is scheduled to close on Sept. 30, subject to customary closing conditions.

What else is happening in Mining & Metals?

Mining & Metals

PMET Completes Phase 2 Caesium Testwork Program at Shaakichiuwaanaan Project

PMET Resources (PMET.TO) after trade Tuesday reported results from a phase 2 bench-scale test program conducted by Koch Technology Solutions on pollucite concentrate from its Shaakichiuwaanaan Project, which hosts a major caesium resource.The company said it is exploring ways to go beyond producing pollucite concentrate by converting it into "value-added" caesium chemicals through partnerships with chemical specialists.Koch's proprietary process could provide a potential pathway to extract caesium and produce marketable chemical products, helping PMET capture more value from its resource, the company added."Follow-up testwork program is now being designed and is anticipated to be expanded to include a complete bench-scale proof-of-concept with production of marketable samples," the company said.PMET shares closed up 5.9% at CA$4.69 on the Toronto Stock Exchange.

$PMET.TO
Mining & Metals

Xanadu Appoints Tara Deakin as Chief People Officer

Xanadu (XNDU.TO) has appointed Tara Deakin as chief people officer, the company said after trade on Tuesday.Deakin was most recently chief people officer and executive vice president at Spin Master (TOY.TO). She takes over from Rebecca Laramee, who will continue as senior vice president of human resources of the company, a statement said.Shares in the software-solutions and quantum computing company closed down 21.2% to CA$8.16 on the Toronto Stock Exchange.

$XNDU.TO
Mining & Metals

Tourmaline to Sell CA$287.5 Million of Topaz Shares, Raises Quarterly Dividend 5%

Tourmaline Oil (TOU.TO) and Topaz Energy (TPZ.TO) said Tuesday that Tourmaline agreed to sell 10 million common shares of Topaz on a bought-deal basis at CA$28.75 per share for gross proceeds of about CA$287.5 million.The offering includes an option for the purchase of up to an additional 15% of the shares sold to cover over-allotments and for market stabilization.Topaz will not receive any proceeds from the offering.Tourmaline currently owns about 19.9 million Topaz shares, representing approximately 12.9% of the company's outstanding shares. Following the offering, Tourmaline will hold about 9.9 million Topaz shares, representing approximately 6.4% of Topaz, or 5.4% if the over-allotment option is exercised in full.Tourmaline intends to use the net proceeds to repurchase its common shares under the normal course issuer bid. Its board has also approved an increase in the quarterly base dividend effective in the fourth quarter of 2026 from CA$0.50/share to CA$0.525/share, representing a 5% increase from the current base dividend of CA$0.50/share.

$TOU.TO$TPZ.TO