Osisko Development and Electric Elements File Early Warning Report for Niobay Metals Inc.
Osisko Development Corp. has increased its stake in Niobay Metals Inc. through a recent acquisition. The company purchased 8.57 million units, each consisting of one common share and one warrant, for a total of just over $1.2 million. This move follows a strategic investment plan tied to Niobay’s business outlook and market conditions.
Before the deal, Osisko Development held around 7.4% of Niobay’s common shares indirectly through its subsidiary, Barkerville Gold Mines Ltd. (BGM). Alongside Electric Elements Mining Corp. (EEM), the group also controlled an extra 3.5% of Niobay’s shares.
The latest transaction saw Osisko Development buy 8,571,429 units at $0.14 each, totalling $1,200,000.06. After completing the purchase, its indirect ownership through BGM rose to approximately 9.9%. When combined with EEM’s holdings, the total stake reached 12.3%, or 13.8% on a partially diluted basis. Osisko Development stated that the acquisition was made for investment purposes. The company may adjust its holdings further, depending on Niobay’s performance and market trends. As required by Canadian regulations, Osisko Development, BGM, and EEM filed an early warning report with the Autorité des marchés financiers (AMF) in Québec following the share issuance.
The transaction strengthens Osisko Development’s position in Niobay Metals. Its combined ownership now stands at 12.3% of common shares, with potential for further changes. The AMF filing confirms compliance with regulatory disclosure requirements.
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