MONTREAL, April 27, 2022 (GLOBE NEWSWIRE) — Osisko Development Corp. (“Osisko Development” or the “Corporation”) (TSX.V-ODV) announces that, at the annual and special meeting of shareholders held on April 26, 2022, each of the 6 nominees listed in the management information circular filed on April 4, 2022 with the regulatory authorities were elected as directors of the Corporation.

Election of Directors

Based on the proxies received, the following individuals were elected as directors of the Corporation until the next annual shareholders’ meeting, with the following results:

Appointment and Remuneration of Auditor

Based on the proxies received, PricewaterhouseCoopers, LLP, Chartered Professional Accountants, was appointed as independent auditor of the Corporation for the ensuing year and the directors are authorized to fix its remuneration, with the following results:

Approval of the existing Stock Option Plan

Based on the proxies received with respect to the adoption of an ordinary resolution to approve the Corporation’s existing Stock Option Plan, the results are as follows:

Approval of the Share Consolidation

Based on the proxies received with respect to the adoption of a special resolution authorizing an amendment to the articles of the Corporation to effect a consolidation of the issued and outstanding common shares of the Corporation for a number to be determined within a range of two (2) and three (3) pre-consolidation common shares and authorizing the directors of the Corporation to determine the final consolidation ratio within such range, the results are as follows:

Following the annual and special meeting of shareholders of the Corporation, the Board of Directors determined to consolidate its common shares on a 3 for one basis, subject to the receipt of all necessary approvals.

About Osisko Development Corp.

Osisko Development Corp. is uniquely positioned as a premier gold development company in North America to advance the Cariboo Gold Project and other Canadian and Mexican properties, with the objective of becoming the next mid-tier gold producer. The Cariboo Gold Project, located in central British Columbia, Canada, is Osisko Development’s flagship asset with measured and indicated resource of 21.44 million tonnes at 4.6 g/t Au for a total of 3.2 million ounces of gold and inferred resource of 21.69 million tonnes at 3.9 g/t Au for a total of 2.7 million ounces of gold. The considerable exploration potential at depth and along strike distinguishes the Cariboo Gold Project relative to other development assets as does the historically low, all-in discovery costs of US$19 per ounce. The Cariboo Gold Project is advancing through permitting as a 4,750 tonnes per day underground operation with a feasibility study on track for completion in the first half of 2022. Osisko Development’s project pipeline is complemented by potential near-term production targeted from the San Antonio Gold Project, located in Sonora, Mexico.

For further information about Osisko Development Corp., please contact:

Jean Francois Lemonde, VP Investor Relations
Telephone: (514) 299-4926
Email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Cautionary Note Regarding Forward-Looking Statements

This news release may contain forward-looking statements and forward-looking information within the meaning of applicable Canadian securities legislation (collectively, “forward-looking information”), including, but not limited to, obtaining the necessary approvals to complete the share consolidation, statements relating to the future financial or operating performance of the Corporation, the Corporation’s mineral projects, the future price of metals, the estimation of mineral resources, the realization of mineral resource estimates, the timing and amount of estimated future production (if any), capital, operating and exploration expenditures, costs and timing of the development of new deposits, costs and timing of future exploration, use of proceeds from financings, requirements for additional capital, government regulation of mining operations and mineral exploration activities, environmental risks, reclamation expenses, title disputes or claims, limitations of insurance coverage, development of the projects, timing (if at all) to complete a prefeasibility study on the projects. Often, but not always, forward-looking information can be identified by the use of words and phrases such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

Although the Corporation believes that the assumptions underlying the forward-looking information contained in this news release are reasonable, this list is not exhaustive of the factors that may affect any forward-looking information. The key assumptions that have been made in connection with forward-looking information include the following: the significance of drill results and ongoing exploration activities; timing to obtain assay results from labs; ability of exploration activities (including drill results) to accurately predict mineralization; the predictability of geological modelling; the accuracy of the Corporation’s records of its property interests; the global economic climate; metal prices; environmental risks; community and non- governmental actions; that permits required for the Corporation’s operations will be obtained on a timely basis in order to permit the Corporation to proceed on schedule with its planned drilling programs; that skilled personnel and contractors will be available as the Corporation operations continue to grow; that the price of gold will exceed levels that will render the project of the Corporation economical; the relevance of the assumptions and that the Corporation will be able to continue raising the necessary capital to finance its operations.

Forward-looking information involves known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking information. Such factors include, among others, general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; errors in geological modelling; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of metals; possible variations of grade or recovery rates; failure of plant and equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; political instability; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities.

Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended, including the risk factors stated in its most recent Annual Information Form filed on SEDAR (www.sedar.com). Forward-looking information contained herein is given as of the date of this news release and the Corporation disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Original Article: https://osiskodev.com/wp-content/uploads/2022/04/ODV_Press-Release_Votes_04272022-final.pdf