Daily News: January 5, 2016

NBC, BOM Upsize Osisko Credit Facility to $108MM

Osisko Gold Royalties has amended its revolving credit facility with National Bank of Canada and Bank of Montreal, thereby increasing the amount of the facility from C$100 million ($72 million) to C$150 million ($108 million) and extending its term to December 23, 2017.

“We are very pleased to have strong financial partners in the National Bank of Canada and Bank of Montreal as we pursue growth opportunities,” said Sean Roosen, chair and CEO of Osisko.

The facility is to be used for investments in the mineral industry, including the acquisition of royalties and/or funding precious metal streams. The facility may be further increased by C$50 million ($36 million) at Osisko’s request.

“This increased facility complements our strong cash and working capital position as we evaluate further investments, while we maintain a prudent approach to the management of our balance sheet. Osisko has no current debt outstanding,” said Elif Lévesque, vice president of Finance and CFO.

Montreal, Quebec-based Osisko is an intermediate mining royalty and exploration company with two gold royalty assets.