Osisko Development acquires $1.2 million stake in Niobay Metals

Osisko Development Corp. (NYSE: ODV) acquired 8,571,429 units of Niobay Metals Inc. for $1.2 million through its subsidiary Barkerville Gold Mines Ltd., according to a press release statement.

The transaction occurred on December 18, 2025, at $0.14 per unit through a private placement. Each unit included one common share and one warrant of Niobay Metals.

Following the acquisition, Osisko Development and its joint actor Electric Elements Mining Corp. collectively own 12.3% of Niobay's outstanding common shares on a basic basis and 16.2% on a partially diluted basis assuming full warrant exercise.

Prior to this transaction, the companies held 10.8% of Niobay's outstanding shares. The purchase increased Osisko Development's direct holdings through Barkerville Gold Mines to 18,428,572 common shares and 8,571,429 warrants, representing 9.9% of outstanding shares on a basic basis.

Osisko Development stated the securities were acquired for investment purposes. The company indicated it may acquire additional securities or dispose of holdings depending on market conditions and Niobay's business prospects.

An early warning report will be filed with Canadian securities regulatory authorities and made available on SEDAR+ under Niobay's issuer profile.

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