MONTREAL, March 30, 2020 (GLOBE NEWSWIRE) — Osisko Gold Royalties Ltd (the “Company” or “Osisko”) (OR: TSX & NYSE) is pleased to announce that it has entered into an agreement with Investissement Québec, a well known Québec institution and long-term supporter of Osisko, for a non-brokered private placement of 7,727,273 common shares (the “Common Shares”) of the Company at a price of $11.00 per Common Share (the “Private Placement”). After the closing of the Private Placement, Investissement Québec will hold 5.04% of the issued and outstanding shares of the Company.

The net proceeds from the Private Placement will be used for general working capital purposes. The Private Placement is expected to close on or about April 1st, 2020. It is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities. The Common Shares issued under the Private Placement are subject to a four-month hold period from the date of issuance of the Common Shares under applicable Canadian securities laws.

Sean Roosen, Chair and CEO stated: “We are pleased to announce today’s financing with Investissement Québec who have shown significant confidence in our business model during exceptionally volatile times. Investissement Québec has been a partner since the early days of the Osisko group and we welcome them onto the shareholder roster in this more meaningful way. The management and board of directors of Osisko felt it was prudent, in the wake of the COVID-19 disruptions, to bolster our balance sheet to weather whatever volatility may still come. The Private Placement also provides the Company with added flexibility for acquisitions of new royalties and streams. Going forward we see the number of, and the quality of, possible royalty and streaming transactions improving considerably.”

“Investissement Québec is proud to renew its commitment to Osisko, a Québec-based industry leader, while providing it with the flexibility needed to overcome the challenges faced by business owners and managers in the wake of the unprecedented COVID-19 crisis,” said Guy LeBlanc, President and CEO of Investissement Québec.