MONTRÉAL, Nov. 09, 2020 (GLOBE NEWSWIRE) — Osisko Gold Royalties Ltd (the “Company” or “Osisko”) (OR: TSX & NYSE) today announced its consolidated financial results for the third quarter of 2020.

Highlights (amounts in Canadian dollars, except otherwise noted)

Record revenues from royalties and streams of $41.2 million (Q3 2019 – $33.9 million);
Record cash flows from operating activities of $36.1 million (Q3 2019 – $28.3 million); $31.7 million before changes in non-cash working capital items (Q3 2019 – $25.1 million);
Record cash operating margin1 of 96.4% from royalty and stream interests, generating $39.7 million in operating cash flow, in addition to a cash operating margin of $0.7 million from offtake interests;
Earned 16,739 GEOs2 (Q3 2019 – 18,123 GEOs);
Net earnings of $12.5 million, $0.08 per basic share (Q3 2019 – net loss of $45.9 million, $0.32 per basic share);
Adjusted earnings3 of $17.5 million or $0.11 per basic share (Q3 2019 – $17.5 million, $0.12 per basic share);
Cash on hand of $160.7 million and over $400.0 million further available under the credit facility as at September 30, 2020;
Announced the spin-out of mining assets and certain equity positions through a reverse take-over transaction and the creation of a North American gold development company, Osisko Development Corp. (“Osisko Development”), which in conjunction completed a $100 million bought deal financing;
The Canadian Malartic mine operators announced strong results from the drilling program at East Gouldie, which are expected to lead to a significant increase in the mineral resources estimate at year-end 2020. A preliminary economic assessment is also expected to be completed in early 2021, which may result in the start of mine shaft construction;
Acquired the San Antonio gold project in Mexico for US$42 million, which will be spin-out to Osisko Development;
Acquired an additional 15% ownership in a Canadian precious metal royalty portfolio, including royalties on the Island Gold and Lamaque mines;
Announced that the Renard diamond mine, operated by Stornoway Diamonds Canada Inc., restarted operations in September 2020;
Announced a strategic partnership with Regulus Resources Inc. (“Regulus”) whereby Regulus has agreed to grant Osisko an initial royalty and certain future royalty rights in exchange for an upfront cash payment of US$12.5 million ($16.6 million);
Commercial production was declared by the operator of the Eagle Gold mine on July 1, 2020, on which the Company holds a 5% NSR royalty; and
Declared a quarterly dividend of $0.05 per common share paid on October 15, 2020 to shareholders of record as of the close of business on September 30, 2020.
Sandeep Singh, President of Osisko commented on the activities of the third quarter of 2020: “We had a very strong third quarter with production rebounding well and other significant catalysts. The spin-out transaction announced on October 5th is an important strategic milestone for the Company. It greatly simplifies Osisko into a pure-play royalty and streaming company, while maintaining exposure to the company-making assets contributed to Osisko Development. Our cornerstone Canadian Malartic royalty continues to create significant value for our shareholders as the joint venture partnership makes significant strides towards an underground development decision. We anticipate a continued upward trend in GEO deliveries in the fourth quarter, and we believe that we are in excellent position to meet our forecast for the second half of 2020.”

Outlook
Osisko’s guidance for the six months and the year ending December 31, 2020 is shown in the table below. For the full year 2020 guidance, actual results were used for the first semester and added to the forecast for the second semester of the year. For the outlook of the last 6 months of 2020, silver and cash royalties have been converted to GEOs using commodity prices of US$1,900 per ounce of gold, US$22 per ounce of silver and an exchange rate (US$/C$) of 1.33.

Six months ending December 31, 2020 (i) Year ending December 31, 2020 (i)
Low High Cash margin Low High Cash margin
(GEOs) (GEOs) (%) (GEOs) (GEOs) (%)

Royalty interests 24,800 26,250 100 45,500 46,950 100

tream interests 8,000 8,450 87 17,150 17,650 81
Offtake interests 200 300 2 850 900 3
33,000 35,000 63,500 65,500


(i) Excluding any potential revenues from the Renard diamond mine for the six months ending December 31, 2020.


Q3 2020 Results Conference Call

Osisko will host a conference call on Tuesday, November 10, 2020 at 10:00 am EST to review and discuss its third quarter 2020 results.

Those interested in participating in the conference call should dial in at 1-(877) 223-4471 (North American toll free), or 1-(647) 788-4922 (international). An operator will direct participants to the call.

The conference call replay will be available from 1:00 pm EST on November 10, 2020 until 11:59 pm EST on November 24, 2020 with the following dial in numbers: 1-(800) 585-8367 (North American toll free) or 1-(416) 621-4642, access code 4896403. The replay will also be available on our website at www.osiskogr.com.

Osisko Declares Fourth Quarter 2020 Dividend.
MONTREAL, Nov. 09, 2020 (GLOBE NEWSWIRE) — Osisko Gold Royalties Ltd (the “Company” or “Osisko”) (OR: TSX & NYSE) is pleased to announce a fourth quarter 2020 dividend of C$0.05 per common share. The dividend will be paid on January 15, 2021 to shareholders of record as of the close of business on December 31, 2020.

For shareholders residing in the United States, the U.S. dollar equivalent will be determined based on the daily rate published by the Bank of Canada on December 31, 2020. This dividend is an “eligible dividend” as defined in the Income Tax Act (Canada).

The Company also wishes to remind its shareholders that it has implemented a dividend reinvestment plan (the “Plan”). Shareholders who are residents of Canada and the United States may elect to participate in the Plan in connection with the dividend to be paid on January 15, 2021 to shareholders on record as of December 31, 2020. More details are available on Osisko’s website at http://osiskogr.com/en/dividends/drip/

Non-registered beneficial shareholders who wish to participate in the Plan should contact their financial advisor, broker, investment dealer, bank or other financial institution that holds their common shares to inquire about the applicable enrolment deadline and to request enrolment in the Plan. For more information on how to enroll or any other inquiries, contact the Agent at 1-800-387-0825 (toll-free in Canada) or inquiries@canstockta.com.

Participation in the Plan does not relieve shareholders of any liability for taxes that may be payable in respect of dividends that are reinvested in common shares under the Plan. Shareholders should consult their tax advisors concerning the tax implications of their participation in the Plan having regard to their particular circumstances.

This press release is not an offer or a solicitation of an offer of securities.