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Osisko Development Announces Completion of Share Consolidation

Press Release

MONTREAL – Osisko Development Corp. (“Osisko Development” or the “Company”) (TSX.V-ODV) announces that pursuant to a special resolution passed by shareholders on April 26, 2022, and to the consolidation ratio subsequently approved by the Board of Directors, the consolidation of all of its issued and outstanding common shares on the basis of one (1) post-consolidated common share for every three (3) pre-consolidated common shares (the “Consolidation”) will take effect as of Wednesday, May 4, 2022 (the “Effective Date”).

The Company’s consolidated common shares are expected to begin trading on the TSX Venture Exchange at the opening of trading on the Effective Date. The new CUSIP number for the Company’s common shares and listed warrants following the Consolidation are 68828E809 and 68828E114, respectively.

The Consolidation results in the number of issued and outstanding common shares being reduced from 142,780,419 to 47,593,473 common shares. The exercise price and number of common shares of the Company issuable upon the exercise of outstanding stock options, warrants or other convertible securities will be proportionately adjusted to reflect the Consolidation in accordance with the terms of the securities.

About Osisko Development Corp.

Osisko Development Corp. is uniquely positioned as a premier gold development company in North America to advance the Cariboo Gold Project and Mexican properties, with the objective of becoming the next mid-tier gold producer. The Cariboo Gold Project, located in central British Columbia, is Osisko Development’s flagship asset with measured and indicated resources of 21.44 Mt at 4.6 Au g/t for a total of 3.2 million ounces of gold and inferred resource of 21.69 Mt at 3.9 Au g/t for a total of 2.7 million ounces of gold (see NI 43-101 Technical Report and mineral resource estimate effective October 5th, 2020). The considerable exploration potential at depth and along strike distinguishes the Cariboo Gold Project relative to other development assets as does the historically low, all- in discovery costs of US $19 per ounce. Osisko Development’s project pipeline is complemented by the San Antonio gold project, located in Sonora Mexico. Osisko Development began trading on the TSX Venture Exchange under the symbol “ODV” on December 2, 2020.

For further information, please contact Osisko Development Corp.:

Jean Francois Lemonde
VP Investor Relations
[email protected]
Tel: 514-299-4926

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