Osisko Development (ODV) Announces Non-Brokered Private Placement

Osisko Development Corp. ("Osisko Development" or, the "Company") (NYSE: ODV, TSXV: ODV) is pleased to announce a non-brokered private placement of units of Osisko Development ("Units") at a price of USD $1.80 (the "Offering"), with each Unit consisting of one common share of the Company (each, a "Common Share") and one Common Share purchase warrant of the Company (each, a "Warrant"), with each Warrant entitling the holder thereof to purchase one additional Common Share (each, a "Warrant Share") at a price of USD $3.00 per Warrant Share for a period of 60 months following the Closing Date.

The Closing Date of the Offering is expected to occur on or about September 23, 2024, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the conditional approval from the New York Stock Exchange and the TSX Venture Exchange. The securities issued pursuant to the Offering will be subject to applicable hold periods, including a hold period of four months and one day from the closing date of the Offering in accordance with applicable Canadian securities laws. The Units may also be offered and sold in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act"). The Offering may be closed in multiple tranches and is not subject to a minimum offering size.

The Company intends to use the net proceeds of the Offering towards the advancement of its Cariboo Gold Project and Tintic Project, and for general corporate purposes.

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