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Osisko Gold Royalties Ltd
Symbol OR
Shares Issued 157,498,201
Close 2019-12-04 C$ 11.70
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Osisko Gold appoints Singh president

2019-12-04 18:17 ET - News Release

Mr. Sean Roosen reports

OSISKO GOLD ROYALTIES CORPORATE UPDATE

Bryan A. Coates will step down as president of Osisko Gold Royalties Ltd., effective Dec. 31, 2019, and Sandeep Singh will be appointed president of the company.

Mr. Coates stepping down as president

Mr. Coates will step down as president of the company effective Dec. 31, 2019. Mr. Coates has been an important player in the Canadian mining business and a key contributor in the development of significant mining operations in the province of Quebec. Mr. Coates has been president of Osisko since June, 2014, a period of exceptional growth for Osisko from a single-asset company with a market capitalization of $575-million to a major industry player with a North American-focused portfolio of over 135 royalties, streams and precious metal offtakes, and a market capitalization of approximately $1.9-billion. Previously, Mr. Coates was vice-president, finance, and chief financial officer of Osisko Mining Corp. from 2007 to 2014, as a core part of the team that built the world-class Canadian Malartic mine. Before joining Osisko, he held senior finance positions at a number of other mining companies.

While stepping down as president of the company, Mr. Coates will continue to serve Osisko as an adviser for Quebec affairs and Quebec government relations, and to complete work on specific projects.

Sean Roosen, chair and chief executive officer, noted: "Bryan has been part of the fabric of Osisko since 2007, and has helped the team define, permit, finance, build and operate one of the biggest and best gold mines in Canada. After the sale of Osisko Mining Corp., his leadership helped build a royalty and streaming platform that has tripled in size in just five years. As a trusted adviser, he will continue to work with us on important Quebec projects, including Falco and Stornoway, and will undoubtedly continue to impact the broader mining sector in many positive ways."

Appointment of Mr. Singh as president

Mr. Singh will join the company as the new president effective Dec. 31, 2019, leaving his role as managing partner of Maxit Capital, a leading financial adviser to the mining sector and a long-time adviser to Osisko.

Mr. Roosen commented: "The addition of Sandeep to our leadership team is an exciting development at Osisko. Sandeep has been our trusted financial adviser for well over a decade, including when we formed Osisko Gold Royalties, and is well known and respected within our industry, by our board, our management team and our stakeholders. A bilingual native of Quebec, he has a vision for value creation and profitable, disciplined growth, and will continue to help Osisko build our portfolio of assets."

Mr. Singh joins Osisko from Maxit, where he was the co-founder and managing partner since its formation in 2013. In his 15 years working as an investment banker, he has advised numerous mining companies and management teams on growth and financing strategies, leading the teams executing the initiatives. As co-founder of Maxit, he was instrumental in building and managing a team of professionals, and managing an independent, entrepreneurial and highly successful investment business.

Mr. Roosen continued: "I have known and worked closely with Sandeep over the past 15 years and have great respect for his abilities. We have significant initiatives in progress, and I am excited about Sandeep's analytical skills, disciplined approach, understanding of complex financing structures, ability to build and foster relationships, and general business acumen. I look forward to working with him on our strategic planning, vision and growth, bringing Osisko Gold Royalties to the next level for our shareholders."

Mr. Singh commented: "I am excited to be joining the Osisko team. The high-quality asset base, derived mainly from Tier 1 jurisdictions, is not getting the recognition it deserves. I look forward to working with Sean, the board and the entire team to unlock the inherent value in the portfolio and continue the work of building a great company. I am honoured to be succeeding Bryan, whom I have worked with very closely on numerous successful transactions over the years. He will be invaluable in his continuing role as an adviser to myself and the company. I am also incredibly proud of the firm we have created at Maxit and leave with the certainty that it is in good hands with the partners in place."

Prior to co-founding Maxit, Mr. Singh had over 10 years of experience in investment banking in the mining sector with BMO and Dundee, and was an aerospace engineer with Pratt & Whitney at the beginning of his career. Mr. Singh has a wide range of mergers and acquisitions advisory and financing transaction experience, including advising on some of the most complex and value-creating transactions in the mining sector.

Mr. Singh holds a masters of business administration degree from Oxford University and a mechanical engineering degree from Concordia University.

Resignation of Elif Levesque, chief financial officer and vice-president, finance

The company is also announcing that Elif Levesque, chief financial officer and vice-president, finance, of Osisko has decided to leave the company by the end of February, 2020, after completion of the company's annual financial reporting obligations, to pursue other opportunities. As a result, a search for her replacement has been initiated. Ms. Levesque has been an integral member of the executive management team since Osisko was formed and greatly contributed to its transformation into the fourth-largest, publicly traded, precious-metals-focused royalty and streaming company in the world.

Mr. Roosen stated: "Elif has been with Osisko for over 10 years. She has been a valued and dedicated member of our team and played an essential role in our growth strategy. We truly wish Elif continued success in the next chapter of her career."

About Osisko Gold Royalties Ltd.

Osisko Gold Royalties is an intermediate precious-metal royalty company focused on the Americas that commenced activities in June, 2014. Osisko holds a North American-focused portfolio of over 135 royalties, streams and precious-metal offtakes. Osisko's portfolio is anchored by four cornerstone assets, including a 5-per-cent NSR (net smelter return) 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 19.9-per-cent interest in Falco Resources Ltd. and a 16.3-per-cent interest in Osisko Mining Inc.

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