Osisko Development Raises US$143.8M, Resumes Cariboo Project Operations and Completes Infill Drilling
Osisko held CAD594.3M in cash and equivalents at March 31, 2026 and raised US$143.8M from a common share offering. The company resumed Cariboo Gold Project site works under a phased plan, secured JDS Energy & Mining for construction services and completed 100% of 13,684m infill drilling with assays pending.
1. Financial Results
Osisko ended Q1 with CAD594.3M in cash and equivalents, generated CAD2.2M in revenue from the sale of 270 ounces of gold, and received CAD36.5M from warrant exercises. The company also raised US$143.8M gross through a prospectus offering of 40.6M common shares at US$3.54 each.
2. Cariboo Project Updates
At the Cariboo Gold Project, site activities resumed under a phased reopening plan after a January 22 fatal incident. A definitive Project and Construction Management Services Agreement was signed with JDS Energy & Mining, 11 drill rigs are operating, and the 13,684m infill program in the Lowhee Zone is complete with final assays pending.
3. Corporate Developments
Osisko completed the sale of its San Antonio Gold Project and was included in the VanEck Junior Gold Miners ETF. The company appointed Sarah Harrison as VP, Permitting & Compliance and Sarah MacDonald as VP, Construction Contracting and Commercial, granted incentive awards and amended its omnibus equity incentive plan pending TSXV approval.