Osisko Development Corp. (OTCQX: ODV) received C$24.9 million in cash from the exercise of 5,625,031 common share purchase warrants held by Appian Capital Advisory Limited. The warrants, issued on July 21 2025, carried an exercise price of C$4.43 per share and were issued as part of the company’s US$450 million senior secured project loan for the Cariboo Gold Project.
The warrant exercise adds to Osisko’s already substantial cash balance, bolstering liquidity as the company moves toward its 2027 production target for the Cariboo operation. The proceeds are earmarked for pre‑construction and permitting activities, allowing the company to advance the project without diluting existing shareholders.
The Cariboo Gold Project is Osisko’s flagship asset, fully permitted and 100% owned, and is positioned to become an intermediate gold producer. The infusion demonstrates Appian’s continued confidence in the project and supports the company’s development timeline, reinforcing its ability to secure and deploy capital efficiently.
Sean Roosen, Chairman and CEO, said, “We are delighted to welcome Appian as a new cornerstone investor, which is a significant endorsement of the Cariboo Gold Project and a major milestone in advancing it toward a construction decision.” Michael W. Scherb, Founder and CEO of Appian, added, “The Cariboo Gold Project perfectly aligns with Appian’s disciplined, technically driven investment strategy.”
Prior to this event, Osisko had raised US$203.1 million in private placements in August 2025, and the combined financing package positions the company to meet its development milestones while maintaining a strong balance sheet.
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