Osisko Development Announces Proceeds of $24.9 Million From Warrant Exercise

Osisko Development (NYSE: ODV) received approximately C$24.9 million from the exercise of 5,625,031 common share purchase warrants by funds advised by Appian on March 9, 2026.

Rhea-AI Summary

Osisko Development (NYSE: ODV) received approximately C$24.9 million from the exercise of 5,625,031 common share purchase warrants by funds advised by Appian on March 9, 2026. The Warrants had an exercise price of C$4.43 and were issued July 21, 2025, tied to a US$450 million senior secured project loan for the fully permitted, 100%-owned Cariboo Gold Project in central British Columbia. The proceeds represent immediate cash inflow to support development and construction of the project.

Positive

• Proceeds of approximately C$24.9 million received from warrant exercises
• 5,625,031 warrants converted at C$4.43 per share
• Cash infusion supports development and construction of Cariboo Gold Project

Negative

• Issuance of 5,625,031 shares through warrant exercise increases outstanding share count
• Warrants were part of financing tied to a US$450 million senior secured loan

Argus Mar 9 session

-1.16% close to close 1.2x rel. volume Open Argus

Details

News Market Reaction – ODV

On Mar 9, the day this news came out, ODV closed 1.16% below the previous close.

Data tracked by StockTitan Argus for the Mar 9 session.

Key Figures

Warrant proceeds: C$24.9 million Warrants exercised: 5,625,031 warrants Warrant exercise price: C$4.43 per share +1 more

Warrant proceeds

C$24.9 million

Cash received from exercise of common share purchase warrants by Appian

Warrants exercised

5,625,031 warrants

Common share purchase warrants exercised by Appian

Warrant exercise price

C$4.43 per share

Exercise price of Appian common share purchase warrants

Project loan facility

US$450 million

Senior secured project loan credit facility tied to Cariboo Gold Project

Historical Context

5 past events · Latest: Mar 02

5 events

1. Mar 02

   Operations resumption

   24h Move

   +0.4%

   Cariboo site activities resumed after temporary suspension, with >250 staff onsite.

2. Feb 11

   Drill results update

   24h Move

   -6.2%

   High‑grade Lowhee infill drilling results and program progress at Cariboo.

3. Feb 09

   Project management deal

   24h Move

   +8.0%

   JDS engaged for project and construction management at Cariboo Gold Project.

4. Feb 03

   Equity financing

   24h Move

   +4.1%

   US$143.8M bought‑deal share offering to fund Cariboo drilling and working capital.

5. Feb 02

   Executive appointment

   24h Move

   +4.1%

   New VP Permitting and Compliance appointed to strengthen regulatory capabilities.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

common share purchase warrants, exercise price, senior secured project loan credit facility

3 terms

common share purchase warrants financial

"exercise of 5,625,031 common share purchase warrants of the Company"

A common share purchase warrant is a tradable right that lets its holder buy a company’s ordinary shares at a fixed price for a set period, like a coupon that can be redeemed later to buy stock at a predetermined rate. Investors care because warrants offer leverage on future upside—they can magnify gains if the share price rises above the set price—but they can also dilute existing shareholders if used, and they expire worthless if unused.

exercise price financial

"The Warrants were originally issued to Appian with an exercise price of C$4.43"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

senior secured project loan credit facility financial

"in connection with the senior secured project loan credit facility totaling US$450 million"

A senior secured project loan credit facility is a committed loan set up to finance a specific project, where lenders have first claim on that project’s cash flow and assets if things go wrong. Think of it like a mortgage taken out just for one building: the bank is paid before other creditors and the loan is backed by the project itself. For investors, this lowers the lender’s risk, affects the project’s cash available for owners, and can influence the borrowing company’s overall financial stability and credit costs.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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MONTREAL, March 09, 2026 (GLOBE NEWSWIRE) -- Osisko Development Corp. (NYSE: ODV, TSXV: ODV) ("Osisko Development" or the "Company") announces that it has received approximately C$24.9 million from the exercise of 5,625,031 common share purchase warrants of the Company (the "Warrants") held by funds advised by Appian Capital Advisory Limited ("Appian").

The Warrants were originally issued to Appian with an exercise price of C$4.43 per common share on July 21, 2025, in connection with the senior secured project loan credit facility totaling US$450 million for the development and construction of the Company's fully permitted, 100%-owned Cariboo Gold Project located in central British Columbia, Canada.

ABOUT OSISKO DEVELOPMENT CORP.

Osisko Development Corp. is a continental North American gold development company focused on past producing mining camps with district scale potential. The Company's objective is to become an intermediate gold producer through the development of its flagship, fully permitted, 100%-owned Cariboo Gold Project, located in central British Columbia, Canada. Its project pipeline is complemented by the Tintic Project located in the historic East Tintic mining district in Utah, U.S.A., a brownfield property with significant exploration potential, extensive historical mining data, and access to established infrastructure. Osisko Development is focused on developing long-life mining assets in mining-friendly jurisdictions while maintaining a disciplined approach to capital allocation, development risk management, and mineral inventory growth.

For further information, contact:

Sean Roosen	Philip Rabenok
Chairman and CEO	Vice President, Investor Relations
Email: sroosen@osiskodev.com	Email: prabenok@osiskodev.com
Tel: +1 (514) 940-0685	Tel: +1 (437) 423-3644

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much cash did ODV raise from the warrant exercise on March 9, 2026?

Approximately C$24.9 million was raised from the warrant exercise. According to the company, 5,625,031 warrants were exercised at an exercise price of C$4.43 per share, producing immediate cash proceeds to support the Cariboo Gold Project.

How many warrants were exercised by Appian and at what price for ODV?

Funds advised by Appian exercised 5,625,031 warrants at C$4.43 each. According to the company, these Warrants were originally issued July 21, 2025 in connection with the US$450 million senior secured project loan.

What is the purpose of the funds raised by ODV from the warrant exercise?

The proceeds are intended to support development and construction of the Cariboo Gold Project. According to the company, the cash infusion will contribute to advancing the fully permitted, 100%-owned project in central British Columbia.

Were the ODV warrants tied to any prior financing or loan facility?

Yes. The Warrants were issued as part of financing related to a US$450 million senior secured project loan. According to the company, the Warrants accompanied the loan for development and construction of the Cariboo Gold Project.

What is the shareholder impact of the ODV warrant exercise on March 9, 2026?

The exercise increased the company's outstanding shares by 5,625,031 shares, causing dilution for existing shareholders. According to the company, this conversion generated approximately C$24.9 million in cash while expanding the share count.