Osisko Development Acquires 8.6 Million Niobay Shares in $1.2 Million Private Placement
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Osisko Development Corp. acquired 8.6 million shares of Niobay Metals Inc. in a $1.2 million private placement. This acquisition, through its subsidiary Barkerville Gold Mines Ltd., gives Osisko a 9.9% stake in Niobay on a basic basis and 13.8% on a partially diluted basis. Along with Electric Elements Mining, the total ownership is 12.3% basic and 16.2% partially diluted. Osisko may adjust its holdings based on market conditions.
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