NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES
TORONTO, Oct. 08, 2021 (GLOBE NEWSWIRE) — Osisko Green Acquisition Limited (the “Corporation“) (TSX: GOGR.UN) is pleased to announce that the syndicate of underwriters led by Eight Capital and which included BMO Nesbitt Burns Inc., Canaccord Genuity Corp., National Bank Financial Inc. and RBC Dominion Securities Inc. (collectively, the “Underwriters“) have partially exercised their over-allotment option (the “Over‑Allotment Option“) to acquire an additional 817,000 Class A restricted voting units of the Corporation (the “Class A Restricted Voting Units“) at a price of $10.00 per Class A Restricted Voting Unit (the “Offering Price“) for additional gross proceeds of $8,170,000. Each Class A Restricted Voting Unit is comprised of one Class A restricted voting share of the Corporation (a “Class A Restricted Voting Share“) and one-half of a share purchase warrant of the Corporation (each whole warrant, a “Warrant“).
The Over-Allotment Option was granted to the Underwriters in connection with the Corporation’s previously announced initial public offering of 25,000,000 Class A Restricted Voting Units at the Offering Price per Class A Restricted Voting Units (the “Offering“) for aggregate gross proceeds of $250,000,000, which closed on September 8, 2021.
The partial exercise of the Over-Allotment Option brings the total number of Class A Restricted Voting Units issued pursuant to the Offering to 25,817,000 and the aggregate gross proceeds to $258,170,000. The aggregate gross proceeds of the Offering (including the gross proceeds from the partial exercise of the Over-Allotment Option ) were placed in the escrow account established with the escrow agent pending completion of a qualifying acquisition by the Corporation and will only be released upon certain prescribed conditions.
Additionally, Osisko Green Sponsor Corp. (the “Sponsor“), certain of the officers and directors of the Corporation and certain other investors were issued an aggregate of 163,400 share purchase warrants (the “Funding Warrants“) at an offering price of $1.00 per Funding Warrant for aggregate proceeds equal to $163,400.
The Class A Restricted Voting Units issued under the Offering (including pursuant to the Over-Allotment Option) were offered by way of a final prospectus dated September 8, 2021 in each of the provinces and territories of Canada (the “Final Prospectus“). Copies of the Final Prospectus and documents incorporated by reference therein are available electronically under the Corporation’s issuer profile on SEDAR at www.sedar.com.
For further information regarding the Class A Restricted Voting Shares, the Warrants and the Funding Warrants, please refer to the Corporation’s news release dated September 8, 2021 and the Final Prospectus.
This press release is not an offer of securities for sale in the United States, and the securities may not be offered or sold in the United States absent registration or an exemption from registration. The securities have not been and will not be registered under the United States Securities Act of 1933. A copy of the Final Prospectus is available on SEDAR at www.sedar.com.
About Osisko Green Acquisition Limited
Osisko Green Acquisition Limited is a newly organized special purpose acquisition corporation incorporated under the laws of the Province of British Columbia for the purpose of effecting, directly or indirectly, a qualifying acquisition within a specified period of time.
This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the Sponsor’s and the Corporation’s current expectations regarding future events including its expectations related to the Corporation’s qualifying acquisition. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Sponsor’s or the Corporation’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, intentions related to the Corporation’s qualifying acquisition and related transactions and the factors discussed under “Risk Factors” in the Final Prospectus. Neither the Sponsor nor the Corporation undertakes any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Osisko Green Acquisition Limited
Chief Financial Officer