Osisko declares fourth quarter dividend
Fifth Consecutive Dividend
Dividend Increased by 33%
(Montreal, November 5, 2015) Osisko Gold Royalties Ltd (OR:TSX) (“Osisko” or the “Corporation”) is pleased to declare a fourth quarter 2015 dividend of $0.04 per share payable on January 15, 2016 to shareholders of record as of the close of business on December 31, 2015. This dividend payment represents an increase of 33% over the previous quarter’s dividend payment, and is an “eligible dividend” as defined in the Income Tax Act (Canada).
Sean Roosen, Chair and Chief Executive Officer of Osisko noted: “It is our pleasure to announce an increase in our dividend payment on the first anniversary of Osisko becoming a dividend paying company. We would like to congratulate the team and the Agnico-Eagle – Yamana Partnership at the Canadian Malartic Mine on their record quarter of production, and on producing Canadian Malartic’s 2 millionth ounce of gold this past September. In the coming quarter we are also looking forward to the commencement of receiving revenue from our Net Smelter Return (“NSR”) royalty on Goldcorp’s Eleonore Mine. We will be starting to pass on these positive developments to our shareholders, along with some of the revenue from our dividend income from our significant position in Labrador Iron Ore Royalties, in the form of this increased dividend.”
About Osisko Gold Royalties Ltd
Osisko is an intermediate mining royalty and exploration company with two world-class gold royalty assets. These two cornerstone assets are a 5% net smelter return (“NSR”) royalty on the world-class Canadian Malartic gold mine, located in Malartic, Québec, and a 2.0-3.5% NSR on the Éléonore gold mine, located in James Bay, Québec. Osisko also holds a 3% NSR royalty on the Malartic CHL property as well as a 2% NSR royalty on the Upper Beaver, Kirkland Lake and Hammond Reef gold exploration projects in Northern Ontario. Osisko currently has a $10 million senior secured loan with Highland Copper, convertible into a 3% sliding scale NSR royalty on the White Pine North project, as well as an option to purchase a 100% NSR royalty on all future silver production from the White Pine North and Copperwood projects. The Company also owns a 9.75% equity interest in Labrador Iron Ore Royalty Corporation.
Osisko’s head office is located at 1100 Avenue des Canadiens-de-Montréal, Suite 300, Montréal, Québec, H3B 2S2.