Company Bolsters Balance Sheet with US$144M Offering
Osisko Development significantly strengthened its financial position to fund its key projects, reporting ~$422.3 million CAD in cash and equivalents at the end of 2025. The company built on this foundation by completing a prospectus offering of common shares on February 3, 2026, which generated gross proceeds of approximately US$143.8 million. This was supplemented by an additional ~$24.9 million CAD received on March 9 from the exercise of common share purchase warrants.
These capital injections are critical for advancing the company's flagship Cariboo Gold Project. The financing followed a productive fourth quarter in 2025, where Osisko completed a private placement for ~$82.5 million CAD in gross proceeds and generated $24.2 million CAD in revenue from selling 3,970 ounces of gold at its Tintic Project.
Fatal Incident on January 22 Mars Cariboo Project Progress
A fatal incident involving a contractor on January 22, 2026, cast a shadow over operations at the Cariboo Gold Project. The event prompted an immediate and temporary suspension of all site activities to accommodate an investigation by regulatory authorities. The company announced on March 2, 2026, that it had resumed planned activities following the implementation of a phased reopening plan.
Despite the work stoppage, progress continues at the site. Osisko has now completed approximately 80% of its planned 11,025-metre infill drilling program in the Lowhee Zone. Pre-construction activities, including upgrades to the water treatment plant and construction of a waste rock storage facility, also continue to advance, signaling a commitment to moving the project forward.
GDXJ Inclusion on March 20 Boosts Investor Profile
Osisko Development achieved a significant corporate milestone with its inclusion in the VanEck Junior Gold Miners ETF (GDXJ), which became effective at the close of markets on March 20, 2026. This listing on the widely followed index is expected to enhance the company's market visibility, improve trading liquidity, and broaden its investor base.
We are very pleased to be included in the widely followed GDXJ index, which we believe will further elevate our market visibility and trading liquidity profile while broadening access to investors seeking exposure to the gold sector.
— Sean Roosen, Chairman and CEO.
In another strategic move to streamline its portfolio, the company completed the sale of its San Antonio Gold Project in Mexico on January 27, 2026. This divestment allows Osisko to concentrate its resources and management focus on developing its core asset, the Cariboo Gold Project in British Columbia.
