MONTREAL, Sept. 19, 2019 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (TSX & NYSE:OR) (“Osisko”) announces that it has subscribed for and received from Unigold Inc. (TSXV:UGD) (“Unigold”) 1,500,000 units (the “Units”) of Unigold for a price of $0.10 per Unit by way of a non-brokered private placement of Unigold, for an aggregate subscription price of $150,000 (the “Private Placement”).

Each Unit is comprised of one (1) common share of Unigold (the “Share”) and one-half of one common share purchase warrant of Unigold (the “Warrant”) entitling the holder to purchase one (1) additional common share of Unigold at a price of $0.15 per common share until the date that is the earlier of: (i) two years following the date of issue, or (ii) 30 days after the date on which Unigold gives notice of acceleration, which notice may be provided no earlier than four months and twenty-one days from the date of issue if the closing price of the common shares on a stock exchange in Canada is higher than $0.30 per common share for more than 20 consecutive trading days.

Immediately prior to the closing of the Private Placement, Osisko held, directly or indirectly, 6,728,000 common shares of Unigold, representing approximately 14.7%. Immediately following the closing of the Private Placement, Osisko owns, beneficial ownership of, or control and direction over:

  1. 8,228,000 common shares, representing approximately 10.5% of Unigold’s issued and outstanding common shares;

  2. 750,000 Warrants representing, together with the 8,228,000 Shares, approximately 11.4% of the number of Unigold’s issued and outstanding common shares on a partially diluted basis (assuming only the exercise of the 750,000 Warrants held by Osisko).

Osisko acquired the securities described in this press release for investment purposes and in accordance with applicable securities laws, Osisko may, from time to time and at any time, acquire additional Common Shares and/or other equity, debt or other securities or instruments (collectively, “Securities”) of Unigold in the open market or otherwise, and reserves the right to dispose of any or all of its Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of Unigold and other relevant factors.

A copy of the early warning report to be filed by Osisko in connection with the Private Placement described above will be available on SEDAR under Unigold’s profile. This news release is issued under the early warning provisions of the Canadian securities legislation.

About Osisko Gold Royalties Ltd

Osisko Gold Royalties Ltd is an intermediate precious metal royalty company that holds a North American focused portfolio of over 135 royalties, streams and precious metal offtakes. Osisko's portfolio is anchored by its 5% NSR royalty on the Canadian Malartic Mine, which is the largest gold mine in Canada. Osisko also owns a portfolio of publicly held resource companies, including a 32.6% interest in Barkerville Gold Mines Ltd., a 16.4% interest in Osisko Mining Inc. and a 19.9% interest in Falco Resources Ltd.

Osisko is incorporated under the laws of the Province of Québec, with its head office located at 1100 avenue des Canadiens-de-Montréal, Suite 300, Montréal, Québec, H3B 2S2.

For further information, please contact Osisko Gold Royalties Ltd:

Joseph de la Plante
Vice President, Corporate Development
Tel. (514) 940-0670
jdelaplante@osiskogr.com