MONTREAL, June 10, 2024 (GLOBE NEWSWIRE) -- Osisko Development Corp. (NYSE:ODV, TSXV:ODV) ("Osisko Development" or the "Company") announces 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 US$50 million delayed draw term loan (the "Credit Facility"), through its wholly-owned subsidiary, 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 US$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 US$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 US$25 million. There are no other material changes to the term of the Credit Facility. "The amendment of the credit facility provides us with additional financial flexibility as we continue to advance the Cariboo Gold project to shovel ready status, with permits expected in the Q3 2024, and explore opportunities to execute on our growth strategy," commented Sean Roosen, Chairman and CEO. The summary of the key terms of the Amendment is qualified in its entirety by the full text of the Amendment, a copy of which will be available on SEDAR+ (www.sedarplus.ca). For more details on the Credit Facility, please refer to the full text of the original credit agreement dated March 1, 2024, available on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile. In connection with the Amendment, the Company has agreed to pay the Lender an upfront fee equal to approximately US$670,000 and duration fees in a range of 1.5% to 2.0% of the total commitment amount. ABOUT OSISKO DEVELOPMENT CORP. Osisko Development Corp. is a North American gold development company focused on past-producing mining camps located in mining friendly jurisdictions with district scale potential. The Company's ...