TORONTO, ONTARIO--(Marketwired - Dec. 19, 2017) - Osisko Mining Inc. (TSX:OSK) (the "Corporation" or "Osisko") today announces its intention to implement a normal course issuer bid program to purchase for cancellation, from time to time over a 12-month period, common shares of the Corporation ("Common Shares") listed on the Toronto Stock Exchange ("TSX") in an aggregate amount of up to 10% of the public float of the Corporation (the "NCIB Program"). The commencement of the NCIB Program is subject to TSX approval.
Any repurchases under the NCIB Program will be made in Canada through the facilities of the TSX. Osisko will pay the prevailing market price at the time of purchase. The actual number of Common Shares repurchased under the NCIB Program and the timing of such repurchases will be at Osisko's discretion and shall be subject to the limitations set out in the TSX Company Manual.
The board of directors of Osisko believes that the underlying value of the Corporation may not be reflected in the market price of the Common Shares from time to time and that, accordingly, the purchase of Common Shares will increase the proportionate interest in the Corporation of, and be advantageous to, all remaining shareholders of the Corporation.
As of December 18, 2017, there were 207,586,907 Common Shares issued and outstanding, and the Corporation had a public float of 152,045,876 Common Shares.
About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% in the high-grade Windfall Lake gold deposit located between Val-d'Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quevillon area (over 3,300 square kilometres), a 100% interest in the Marban project located in the heart of Québec's prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Quebec and Ontario. Osisko continues to be well financed with approximately $190 million in cash and investments.
