Osisko Critical Minerals Corporation (OCMC), a wholly-owned subsidiary of Osisko Metals Incorporated (TSX: OM; OTCQX: OMZNF; FRANKFURT: 0B51), has announced an upsize of its "best efforts" private placement of special warrants from C$100 million to C$250 million, citing overwhelming investor demand. The placement is led by Canaccord Genuity Corp. as lead agent and sole bookrunner on behalf of a syndicate of agents. The upsized offering is intended to capitalise OCMC's copper and critical minerals exploration activities across approximately 645 square kilometres of mineral claims in northern New Brunswick. Investors may be watching closely given the scale of the financing and the early-stage nature of the venture.

Key Points

  • Osisko Metals Incorporated (TSX: OM; OTCQX: OMZNF; FRANKFURT: 0B51) via subsidiary Osisko Critical Minerals Corporation
  • Private placement of special warrants upsized from C$100 million to C$250 million following strong investor demand
  • OCMC holds approximately 645 square kilometres of mineral claims in northern New Brunswick, including the NB Copper Project
  • Investors should watch for regulatory approvals, definitive documentation, and any stock exchange listing announcement for OCMC

OCMC Special Warrants Placement Upsized to C$250 Million

OCMC announced on 21 September 2026 that the aggregate gross proceeds target for its private placement of special warrants has been increased from up to C$100 million to up to C$250 million. The offering was originally announced on 16 September 2026. Canaccord Genuity Corp. continues to act as lead agent and sole bookrunner for the syndicate of agents. The release states that all other terms of the placement remain unchanged from those described in the prior announcement. Incoming Chief Executive Officer John Burzynski attributed the upsize to overwhelming demand from investors and cited confidence in OCMC's exploration portfolio and its opportunity in New Brunswick.

New Brunswick Copper Assets at the Core of OCMC's Strategy

OCMC's principal assets comprise approximately 645 square kilometres of mineral claims in northern New Brunswick, anchored by the NB Copper Project. The release describes the project as hosting large-scale exploration targets for bulk-tonnage copper deposits in a geological setting the company characterises as analogous to the nearby Gaspé Copper Project. OCMC is described as a newly incorporated Canadian mineral exploration company focused on copper and critical minerals discovery and development. The corporation remains a wholly-owned subsidiary of Osisko Metals pending completion of the private placement.

Conditions and Regulatory Approvals Still Required for Closing

The announcement cautions that there is no certainty the private placement will be completed on the proposed terms, or at all. Conditions remaining include completion of legal and tax structuring, financial analysis, negotiation and execution of definitive documentation, and required regulatory approvals. The release further notes that no assurance can be given that OCMC's securities will be listed on any stock exchange. Bennett Jones LLP advises Osisko Metals, Peterson McVicar LLP advises OCMC on corporate matters, and Cassels Brock & Blackwell LLP advises the agents. The immediate share price impact was not clear from available public information.