MONTREAL, Oct. 14, 2024 (GLOBE NEWSWIRE) -- Osisko Development Corp. (NYSE: ODV, TSXV: ODV) ('Osisko Development' or the 'Company') is pleased to announce the successful closing of its previously-announced non-brokered private placement of units of the Company ('Units'), announced on September 4, 2024, pursuant to which the Company issued an aggregate of 19,163,410 Units at a price of US$1.80 per Unit for an overall offering size to approximately US$34.5 million, comprising (i) 13,426,589 Units at a price of US$1.80 per Unit for gross proceeds of approximately US$24.2 million, which closed on October 1, 2024, and (ii) 5,736,821 Units at a price of US$1.80 per Unit for gross proceeds of approximately US$10.3 million, which closed on October 11, 2024 (together, the 'Offering').

Each Unit consists of one common share of the Company (each, a 'Common Share') and one Common Share purchase warrant of the Company (each, a 'Warrant'), with each Warrant entitling the holder thereof to purchase one additional Common Share (each, a 'Warrant Share') at a price of US$3.00 per Warrant Share on or prior to October 1, 2029.