CIBC World Markets in Osisko Gold Royalties' $110.7M secondary bought deal offering

On July 11, 2019, Osisko Gold Royalties announced the completion of its $110.7M secondary offering by a syndicate of underwriters led by CIBC Capital Markets and BMO Capital Markets pursuant to which the Underwriters purchased common shares of Osisko held by Orion Resource Partners in a cross-border offering under the multi-jurisdictional disclosure system.  In a concurrent transaction, Osisko agreed to purchase for cancellation 12,385,717 of its Common Shares from Orion. Payment from Osisko to Orion will consist of a combination of cash and the direct transfer of other equity securities currently held by Osisko. In a concurrent transaction, Osisko has also agreed to sell to separate entities managed by Orion Resource Partners certain other equity securities held by Osisko for cash.

Osisko Gold Royalties Ltd is an intermediate precious metal royalty company that holds a North American focused portfolio of over 135 royalties, streams and precious metal offtakes.

Orion Resource Partners is a leading global alternative investment management firm with approximately $5.1 billion under management.

Osler, Hoskin & Harcourt advised CIBC World Markets Inc. as lead to the syndicate of underwriters, with a team consisting of Desmond Lee, James Brown, Jason Comerford, Jie Chai and Patrick Sullivan (Corporate), and Tim Hughes (Tax).