Osisko Critical Minerals Corporation (OCMC), a newly incorporated wholly-owned subsidiary of Osisko Metals Incorporated (TSX: OM), has announced a best efforts private placement of special warrants targeting gross proceeds of C$100,000,000. Priced at $0.25 per Special Warrant, the offering is led by Canaccord Genuity Corp. as lead agent and sole bookrunner. The proceeds are earmarked to fund exploration and development of approximately 645 square kilometres of mineral claims in northern New Brunswick, with the placement expected to close on or about November 17, 2026.

Key Points

  • Osisko Metals Incorporated (TSX: OM; OTCQX: OMZNF) via subsidiary Osisko Critical Minerals Corporation (OCMC)
  • C$100 million best efforts private placement of Special Warrants priced at $0.25 each, led by Canaccord Genuity
  • Each Special Warrant converts to one Unit (one Common Share plus one-half Warrant exercisable at $0.35 for 24 months post-closing)
  • Investors will be watching for TSX Venture Exchange listing approval and satisfaction of Release Conditions within 180 days of closing

Special Warrant Structure and Conversion Terms

Each Special Warrant will automatically convert, without additional consideration, into one Unit upon satisfaction of the Release Conditions. Each Unit comprises one Common Share and one-half of one common share purchase Warrant. A whole Warrant entitles the holder to acquire one additional Common Share at $0.35, exercisable for 24 months following the closing date. The Release Conditions require receipt of a final qualifying prospectus from Canadian securities regulators and conditional TSX Venture Exchange approval to list the Common Shares and Warrants, both to be achieved within 180 days of closing.

New Brunswick Copper Portfolio Underpinning OCMC's Exploration Mandate

The properties underlying OCMC's mandate comprise 2,972 mineral claim units covering approximately 645 square kilometres in northern New Brunswick. The package includes claims staked by Osisko Metals and claims subject to three separate option agreements, entered into on January 9, 2026, April 20, 2026, and September 9, 2026 respectively. These option agreements will be assigned to OCMC in exchange for common shares of the Corporation. The release states the properties host large-scale exploration targets prospective for copper, silver, and gold, in geology described as analogous to the nearby Gaspé Copper Project.

Intended Use of Net Proceeds and Conditions to Closing

The Corporation intends to apply net proceeds from the placement toward exploration and development costs on its New Brunswick properties, as well as general working capital and corporate expenses. The company cautions that closing remains subject to several conditions, including completion of legal and tax structuring, financial analysis, negotiation of definitive documentation, and required regulatory approvals. The announcement explicitly states there is no certainty the Private Placement will be completed on the proposed terms or at all. Bennett Jones LLP is acting as legal counsel to the Corporation; Cassels Brock & Blackwell LLP is counsel to the Agents.