Osisko Development (ODV) announces the Company has entered into a credit agreement with National Bank of Canada (NTIOF) providing for a US$50 million delayed draw term loan, through its wholly-owned subsidiary, Barkerville Gold Mines. The Credit Facility will be exclusively used to fund ongoing detailed engineering and pre-construction activities at the Company’s 100%-owned Cariboo Gold Project located in central British Columbia, Canada. This includes the commencement of an underground development drift from the existing Cow Portal into the Project’s mineral deposit at Lowhee Zone and extraction of 10,000 tonnes of material under an existing permit from the Province of BC.
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