Osisko Development Corp.

Osisko Development Corp.

Osisko Development Corp. was incorporated in 2020 under the laws of British Columbia, forming the operating-and-development arm spun out from the Osisko Gold Royalties ecosystem. Sean Roosen, a veteran mining executive who previously led Osisko Mining Corporation through the discovery, permitting, construction, and eventual sale of the giant Canadian Malartic mine, chairs the company and sets the strategic direction. The enterprise was capitalized with a portfolio of brownfield properties in Canada and the United States transferred from Osisko Gold Royalties, alongside a large institutional equity financing that included participation from funds managed by BlackRock. The founding thesis was straightforward: assemble a team with a demonstrated track record of building and operating large-scale gold mines in North America, and apply that expertise to deposits that stalled under prior ownership. The company's strategy centers on advancing gold development assets in mining-friendly jurisdictions — principally Quebec, British Columbia, and the western United States — from feasibility stage through construction and into production. The flagship Cariboo Gold Project in central British Columbia, an underground operation targeting roughly 194,000 ounces of gold per year over an initial 12-year mine life, is the current organizational focus. The Tintic Project in Utah, which includes the past-producing Trixie mine, represents a secondary US growth axis. Osisko Development's approach is distinguished by a vertically integrated technical team that retains in-house capabilities in exploration geology, mine engineering, environmental permitting, and construction management — a structural feature inherited from the core group that built Malartic. The company has historically funded its development pipeline through a mix of equity, convertible instruments, mine-level project financing, and streaming arrangements with its former parent, Osisko Gold Royalties. In May 2024, the company announced a non-brokered private placement of flow-through shares and common shares to raise gross proceeds of up to C$75 million, earmarked principally for continued underground development and exploration at Cariboo. Headcount is not publicly enumerated, though regulatory filings indicate the team includes senior technical personnel who held operational roles at Malartic and other large-scale Canadian mines. Adjacent structures are limited to typical Canadian public-company governance; there is no private family-wealth vehicle or philanthropic foundation publicly linked to the firm. What structurally separates Osisko Development from a standard junior gold developer is the continuity of its operating team from Osisko Gold Royalties: this is not a newly assembled group of geologists raising discovery-stage venture capital, but a publicly listed vehicle housing an experienced mine-building crew that already delivered Canada's largest open-pit gold mine of the 21st century. The Tintic and Cariboo assets were acquired from known counterparties and were not grassroots staking plays, which shifts the risk profile from exploration success to execution risk — permitting, underground development rates, and capital cost control are the variables that will determine outcomes.