The TSX Venture Exchange has accepted for filing the documentation with respect to a non-brokered private placement announced on June 18, 2018.

Convertible debenture:  $7-million

Conversion price:  principal convertible into 12,104,444 units at a conversion price of 57.830 cents per unit (Each unit included one common share and one-half of one warrant.)

Maturity date:  the earlier of (i) the date of the meeting of the company's shareholders held on Nov. 29, 2018, and (ii) Dec. 31, 2018

Warrants:  6,052,222 share purchase warrants to purchase 6,052,222 common shares at an exercise price of 75 cents per common share during a period of 36 months following the date the units are issued

Interest rate:  0 per cent (unless shareholder approval for the conversion was not obtained, in which case the interest rate would be 7 per cent per year)

Number of placees:  one placee

Insider:  Osisko Gold Royalties Ltd., 12,104,444

Intermediary's fee:  nil

The company has announced the completion of the private placement by way of a press release dated July 3, 2018. The company announced conversion of the debenture by way of a press release dated Nov. 30, 2018.