MONTREAL, QUEBEC--(Marketwired - Nov. 14, 2017) - Osisko Gold Royalties Ltd (the "Company" or "Osisko") (TSX:OR) (NYSE:OR) is pleased to announce that it has amended its revolving credit facility (the "Facility"), increasing the amount from $150 million to $350 million, with an additional uncommitted accordion of up to $100 million, for a total availability of up to $450 million. The Facility is to be used for general corporate purposes and investments in the mineral industry, including the acquisition of royalties, streams and other interests.
National Bank of Canada continues to act as administrative agent and as lender, and the syndicate of financial institutions includes Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, The Toronto-Dominion Bank and Export Development Canada. National Bank Financial Inc. acted as sole Lead Arranger and Bookrunner, and Bank of Montreal as Documentation Agent.
Sean Roosen, Chair and Chief Executive Officer of Osisko, noted: "We are very pleased to have National Bank of Canada and Bank of Montreal as strong financial partners and we welcome our new lenders, as we pursue our strategic plan to provide strong returns to our shareholders and stakeholders. The pipeline of projects from our accelerator model and our near-term cash flowing assets provide our Company with a unique growth profile within the royalty sector."
Elif Lévesque, Vice President Finance and Chief Financial Officer of Osisko, noted: "The new Facility combined with our cash position (including our recently completed $300 million 5-year convertible debentures) provides liquidity of up to $700 million to fund growth opportunities."
The Facility is secured by the Company's assets and has an initial term of four years.
About Osisko Gold Royalties Ltd
Osisko Gold Royalties Ltd is an intermediate precious metal royalty company focused on the Americas that commenced activities in June 2014. Osisko holds a North American focused portfolio of over 131 royalties, streams and precious metal offtakes. Osisko's portfolio is anchored by five cornerstone assets, including a 5% net smelter return royalty on the Canadian Malartic Mine, the largest gold mine in Canada. Osisko also owns a portfolio of publicly held resource companies, including a 15.6% interest in Osisko Mining Inc., 12.8% in Osisko Metals Inc., 13.3% in Falco Resources Ltd. and 32.8% in Barkerville Gold Mines Ltd.
