10:35:02 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Osisko Gold Royalties Ltd
Symbol OR
Shares Issued 50,694,832
Close 2014-11-27 C$ 14.205
Market Cap C$ 720,120,089
Recent Sedar Documents

Osisko to buy back up to 4.84 million shares

2014-11-28 11:23 ET - News Release

Mr. John Burzynski reports

OSISKO ANNOUNCES TSX APPROVAL FOR NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has approved Osisko Gold Royalties Ltd.'s notice of intention to make a normal course issuer bid. Under the terms of the bid, Osisko may acquire up to 4,842,676 of its common shares from time to time in accordance with the normal course issuer bid procedures of the TSX, representing approximately 10 per cent of the public float (as that term is defined in the policies of the TSX) as of Nov. 26, 2014.

Repurchases under the bid may commence on Dec. 2, 2014, and will terminate on Dec. 1, 2015, or on such earlier date as the bid is complete. Purchases of common shares will be made through the facilities of the TSX in accordance with its rules. Daily purchases will be limited to 70,517 common shares, other than block purchase exemptions, being 25 per cent of the average daily trading volume of the common shares on the TSX, being 282,068 common shares, since the common shares began trading on the TSX. The price that the corporation may pay for any common shares purchased under the bid will be the prevailing market price at the time of purchase, and any common shares purchased by the corporation will be cancelled.

The board of directors of Osisko believes that, from time to time, the underlying value of Osisko may not be reflected in the market price of the common shares.

As of Nov. 26, 2014, there were approximately 50,694,832 common shares issued and outstanding. The 4,842,676 common shares that may be repurchased under the bid represent 10 per cent of the public float, and approximately 9.6 per cent of the issued and outstanding common shares on Nov. 26, 2014.

Osisko has appointed Macquarie Capital Markets Canada Ltd. to make any purchases under the bid on its behalf.

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