Osisko Development Corp. announced it has entered into an amending agreement to the credit agreement (the Amendment) with National Bank of Canada (the Lender) made as of March 1, 2024 providing for a USD 50 million delayed draw term loan (the Credit Facility), through Barkerville Gold Mines Ltd. (Barkerville). The Amendment provides for, among other things: An 8-month extension to the maturity date of the Credit Facility to October 31, 2025 (from March 1, 2025).

The extension is subject to the Company completing a capital raise of at least USD 20 million prior to October 31, 2024, otherwise the maturity date reverts to February 28, 2025. Reduction in the mandatory prepayment amount to 50% of each incremental dollar raised in excess of USD 25 million in respect of certain financings, allowing the Company to preserve 50% of such proceeds. There are no mandatory prepayment requirements for amounts up to USD 25 million.

There are no other material changes to the term of the Credit Facility.