Prominent Quebec pension fund increases share position in Osisko Metals
Osisko Metals Incorporated (the “Company” or “Osisko Metals”) (TSX-V: OM; FRANKFURT: 0B51) is pleased to announce that La Caisse de Dépot et Placement du Québec (“la Caisse”), a leading Canadian institutional investor, increased its position in the Company with the acquisition of 1 million shares from Executive Chairman Robert Wares.
CDPQ, which holds more than $309.5 billion in net assets across the globe, has been a strategic institutional partner and shareholder of Osisko Metals since 2014.
Robert Wares commented: “We are very pleased that la Caisse has chosen to increase its involvement with Osisko Metals. We feel this reflects their confidence in our Company’s growth strategy.”
Following the transaction, Mr. Wares will maintain a minimum shareholder position of 9.5% in the Company.
About Osisko Metals
Osisko Metals is a Canadian exploration and development company creating value in the base metal space with a focus on zinc mineral assets. The Company controls Canada’s two premier historical zinc mining camps: the Pine Point Mining Camp (“PPMC”), located on the south shore of Great Slave Lake in the Northwest Territories, near established infrastructure, paved highway access and with 100 kilometres of mine haulage roads and power substation already in place. The PPMC currently hosts a NI43-101 Inferred Mineral Resource of 38.4 Mt grading 4.58% zinc and 1.85% lead, making it the largest near-surface, pit-constrained zinc deposit in Canada (please refer to the SEDAR-filed Amended Technical Report for further information). The 2018-2019 drill holes, once fully assayed, will be incorporated into the database with the objective of issuing a new resource estimate in H2 2019. The Bathurst Mining Camp (“BMC”), located in northern New Brunswick, with NI43-101 Indicated Mineral Resources of 1.96 Mt grading 5.77% zinc, 2.38% lead, 0.22% copper and 68.9g/t silver (9.00% ZnEq) and Inferred Mineral Resources of 3.85 Mt grading 5.34% zinc, 1.49% lead, 0.32% copper and 47.7 g/t silver (7.96% ZnEq) in the Key Anacon and Gilmour South deposits. In Québec, the Company owns 42,000 hectares that cover 12 grass-root zinc targets that will be selectively advanced through exploration in 2019.
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