Osisko Development to Complete Fourth Deferred Payment Installment in Connection with the Tintic Acquisition
Osisko Development (NYSE: ODV) plans to satisfy the fourth of five deferred payments for its 100% acquisition of the Tintic Project in Utah using common shares.
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Rhea-AI Summary
Osisko Development (NYSE: ODV) plans to satisfy the fourth of five deferred payments for its 100% acquisition of the Tintic Project in Utah using common shares. The US$2.5 million payment (C$3,453,000) is to be settled via 871,683 shares at an implied price of about C$3.9613, subject to TSX Venture Exchange approval.
Positive
- Fourth Tintic deferred payment of US$2.5 million to be fully settled
- Payment structured in 871,683 shares at about C$3.9613 each
- Progress toward completing five-part Tintic acquisition consideration schedule
Negative
- Issuance of 871,683 new common shares creates shareholder dilution
- Share settlement remains subject to TSX Venture Exchange approval
Details
News Market Reaction – ODV
On May 28, the day this news came out, ODV closed 3.02% above the previous close.
Data tracked by StockTitan Argus for the May 28 session.
Key Figures
- Fourth Deferred Payment
- US$2,500,000
- Fourth of five Tintic Acquisition deferred payments
- Fourth Payment (CAD)
- C$3,453,000
- Value based on stated USD/CAD exchange rate
- FX rate
- 1.3812 USD/CAD
- Rate used to translate US$2.5M Tintic installment
- Deemed share price
- C$3.9613 per share
- 20-day VWAP as of May 26, 2026 for payment shares
- Shares to be issued
- 871,683 Common Shares
- Equity issuance to satisfy Fourth Deferred Payment
- Deferred payment count
- Fourth of five payments
- Tintic Acquisition consideration structure
- Tintic ownership
- 100% interest
- Ownership stake acquired in Tintic Project, Utah
- 20-day VWAP lookback
- 20 days
- Period used to determine deemed share price
Previous Acquisition Reports
-
Third Tintic deferred payment settled in shares plus new marketing agreement
-
Second Tintic deferred payment settled fully in common shares
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
vwap financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
MONTREAL, May 28, 2026 (GLOBE NEWSWIRE) -- Osisko Development Corp. (NYSE: ODV, TSXV: ODV) ("Osisko Development" or the "Company") announces that, in accordance with the terms of the Company's previously-completed acquisition in May 2022 of a
The Fourth Deferred Payment of US
The issuance of the Common Shares in satisfaction of the Fourth Deferred Payment remains subject to the approval of the TSX Venture Exchange (the "Exchange").
For additional details regarding the Tintic Acquisition, please refer to the Company's news releases dated January 25, 2022 (entitled "Osisko Development Announces Proposed Acquisition of Tintic Consolidated Metals") and May 30, 2022 (entitled "Osisko Development Completes Acquisition of Tintic Consolidated Metals, Finalizes Binding Stream Terms and Satisfies Escrow Release Condition For Brokered Subscription Receipt Financing").
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,
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 |
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, as amended) (collectively, "forward-looking statements"). Such forward-looking statements are identified with words such as "may", "will", "would", "could", "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee", "objective", "strategy", variants of these words or the negative or comparable terminology, as well as terms usually used in the future and the conditional. Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including the assumptions, qualifications, limitations or statements pertaining to: the ability and timing of the Company to complete the Fourth Deferred Payment; to obtain the Exchange's final approval of the issuance of the Common Shares in satisfaction of the Fourth Deferred Payment; to obtain the Exchange's final approval of the Agreement; the ability to develop the Cariboo Gold Project and its status as being fully permitted; the exploration potential and prospectivity (if any) of its properties. Such forward-looking statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. These assumptions include, but are not limited to: the absence of further work stoppages or suspensions at the Project; favourable regulatory conditions and approvals; the ability to maintain adequate personnel and contractor levels; the absence of unforeseen ground conditions or other geological challenges; the availability of necessary equipment, supplies and infrastructure; and general economic and market conditions. Actual results could differ materially due to a number of factors, including, without limitation: risks related to the exploration, development and operation of the Cariboo Gold Project; health, safety and security incidents; regulatory delays or changes in regulatory framework and applicable laws; labour shortages or disputes; general economic and market conditions and business conditions in the mining industry; fluctuations in commodity and currency exchange rates; changes in regulatory framework and applicable laws, as well as those risks and factors disclosed in the Company's most recent annual information form, financial statements and management's discussion and analysis as well as other public filings on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.gov). Although the Company believes the expectations conveyed by the forward-looking statements are reasonable based on information available as of the date hereof, no assurances can be given as to future results, levels of activity and achievements. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. Forward-looking statements are not guarantees of performance and there can be no assurance that these forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
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.
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