MONTREAL, April 08, 2021 (GLOBE NEWSWIRE) — Osisko Gold Royalties Ltd (“Osisko” or the “Corporation”) (OR: TSX & NYSE) is pleased to announce several positive steps towards its ongoing commitment to environmental, social and governance (“ESG”) matters. These include the release of an inaugural ESG report, commitment to the United Nations Global Compact (“UN Global Compact”), and an investment and strategic partnership to promote global decarbonization and biodiversity efforts through carbon credit streaming transactions.
Sandeep Singh, President and CEO of Osisko commented, “ESG sustainability principles have always been core tenets of the Osisko group of companies. When Osisko’s management team built the Canadian Malartic mine in our predecessor company, we did so by being on the forefront of sustainability practices. Those same values underpin our present-day royalty and streaming company.
“Our inaugural ESG report entitled “Growing Responsibly” and voluntary commitment to the UN Global Compact improve stakeholder communication of our ESG successes, risks, and mitigation activities and highlight our belief in the importance of corporate responsibility.
“We perform well under an ESG lens due to the nature of our non-operating business model, the quality and jurisdictional advantages of our portfolio and the importance our operating partners place on sustainability. Nevertheless, we intend to go further and strive to be part of the solutions for a Net-Zero world.
“Our early stage partnership with Carbon Streaming Corporation (“Carbon Streaming”), a newly formed private entity, allows us to be on the forefront of a nascent sector that leverages our streaming expertise to fund capital projects that reduce greenhouse gas emissions. These projects will not only offset our relatively small direct carbon footprint, but also provide opportunities to offset our indirect carbon footprint. We view this as an opportunity to have a positive impact while deploying a small amount of capital accretively.”
Osisko’s goal, with the release of its ESG report, is to facilitate ongoing discussions of our risk management processes and help stakeholders assess our relative exposure to, and performance managing, ESG issues. In addition to a discussion of corporate governance practices, the report provides a focused review of how Osisko assesses potential investments through its diligence process and monitors existing assets to ensure the Corporation is well positioned to deliver growth responsibly.
The Corporation’s ESG report covers the 2020 period as well as providing context on Osisko’s historical activities. It is available on www.osiskogr.com.
Partnering to Reduce Greenhouse Gas (“GHG”) Emissions
Osisko is also proud to announce a strategic partnership with Carbon Streaming to help promote global decarbonization and biodiversity projects. The group’s management team consists of seasoned executives with significant streaming expertise and recognized climate change experts. Carbon Streaming’s business model is to fund carbon-offset projects that avoid, reduce or remove GHG emissions globally.
Osisko’s investment totaled C$3.5 million for a 14.3% partially diluted stake in the company, which has been able to raise approximately C$36 million privately. The investment affords Osisko a 20% right to participate in any streaming transactions conducted by Carbon Streaming under certain circumstances.
Beyond the potential to offset the Corporation’s indirect carbon emissions, Osisko expects potential synergies with current and future mine operators in its traditional royalty business. Mining operations afford significant opportunities to generate carbon credits through ancillary projects that are value enhancing for the mine, the neighboring communities (through employment and conservation) and the environment overall.
United Nations Global Compact
As part of its broader ESG initiative, Osisko is proud to have joined the UN Global Compact. It is the world’s largest voluntary corporate sustainability initiative, with over 12,500 participants across 160 countries. The UN Global Compact is based on ten universally accepted principles in the areas of human rights, labour, environment and anti-corruption. By signing onto the initiative, Osisko has committed to align with these principles, intended to promote and strengthen responsible corporate policies and practices worldwide. As part of our commitment, Osisko will release an annual Communication on Progress that outlines the Corporation’s efforts to operate responsibly and implement the Ten Principles.
Management Information Circular
Osisko has filed its Management Information Circular for its upcoming Annual Meeting of Shareholders to be held, virtually, on May 12, 2021 at 3:30 pm (EDT).
Shareholders will be asked to elect the Corporation’s directors for the ensuing year, appoint PricewaterhouseCoopers as independent auditor, adopt an ordinary resolution to approve all unallocated rights and entitlements under the Corporation’s Employee Share Purchase Plan, adopt an ordinary resolution to approve amendments under the Restated Restricted Share Unit Plan and approve the unallocated rights and entitlements under said plan, and adopt an advisory resolution supporting Osisko’s approach on executive compensation.
The Management Information Circular is available on www.sedar.com, www.sec.gov and www.osiskogr.com.
About Osisko Gold Royalties Ltd
Osisko is an intermediate precious metal royalty company focused on the Americas that commenced activities in June 2014. Osisko holds a North American focused portfolio of over 150 royalties, streams and precious metal offtakes. Osisko’s portfolio is anchored by its cornerstone asset, a 5% net smelter return royalty on the Canadian Malartic mine, which is the largest gold mine in Canada.
Osisko’s head office is located at 1100 Avenue des Canadiens-de-Montréal, Suite 300, Montréal, Québec, H3B 2S2.
For further information, please contact Osisko Gold Royalties Ltd:
Vice President, Investor Relations