Canadian Mining Journal

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ZINC-LEAD: Osisko Metals to raise up to $10M



NEW BRUNSWICK – Once again there seems no shortage of investors when the Osisko name is on the offering. Today Osisko Metals announced it will issue flow-through shares for work in the Bathurst lead-zinc camp and elsewhere.

The company will initially issue 4.2 million flow-through shares at a price of $1.90 each for gross proceeds of slightly more than $8.0 million. Canaccord Genuity will be the lead underwriter. The underwriters have also been offered an over-allotment of an additional 1.1 million flow-through shares for further proceeds of $2.0 million.

Osisko Metals was formed when Osisko Gold Royalties bought up Bowmore Exploration and renamed it. The company holds 40,000 hectares in the Bathurst camp where it hopes to mine several deposits feeding a central mill. The company also  acquired 42,000 hectares in Quebec that include 12 grassroots prospects.

Specifics will be available at www.OsiskoMetals.com, as soon as the website is updated.