Osisko Gold Royalties Controls 27.3 Percent Of Strongbow Exploration Shares

Osisko Gold Royalties (TSX:OR) issued an early warning report regarding its acquisition of 2 million units of Strongbow Exploration (TSXV:SBW). Osisko now has control over 27.3 percent of Strongbow’s issued and outstanding shares.
As quoted in the press release:

Osisko Gold Royalties Ltd (the “Corporation” or “Osisko”) (TSX:OR) announces that under the terms of a subscription agreement it acquired 2,000,000 units (“Units”) of Strongbow Exploration Inc. (“Strongbow”) for a price of $0.10 per Unit where each Unit is composed of one common share (“Common Share”) and one half of one common share purchase warrant (“Warrant”). Each whole Warrant entitles the holder to acquire one Common Share at a price of $0.20 before July 24, 2017. The Corporation also acquired control indirectly, through its wholly-owned subsidiary Brett Alaska Resources Inc., over 5,000,000 Common Shares of Strongbow at a deemed price of $0.10 per Common Share pursuant to the terms of a properties sale agreement. Osisko has control over 27.3% of the issued and outstanding Common Shares of Strongbow (30.1% on a diluted basis).
Osisko may increase or decrease its investment in Strongbow based on market conditions or other relevant factors.
The subscription was made through a private placement under the accredited investor exemption and under the prospectus exemption for the acquisition of mining properties provided by applicable securities regulation.

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