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Osisko Metals raising C$6.5M in bought-deal financing

Osisko Metals Inc. struck a deal with Canaccord Genuity Corp., on behalf of a syndicate of underwriters, for a C$6.5 million bought-deal private placement.

The company will issue 8,667,100 flow-through shares priced at 75 cents apiece. The company also granted the underwriters an option to sell up to an additional 1,733,420 flow-through shares at the same price to raise up to C$1.3 million.

Osisko will use the proceeds for exploration over its projects in Canada, according to an Oct. 15 release.

The offering is expected to close by Nov. 6.