The Caisse de dépôt et placement du Quebec is entering into an agreement with Osisko Mining Inc. to acquire 9,259,260 common shares at $2.70 per share.

“We are very pleased to welcome la Caisse de dépôt et placement du Quebec as a significant shareholder in Osisko Mining,” said John Burzynski, president and chief executive officer of Osisko, in a press release. “This investment by la Caisse provides meaningful support for the continued development of our Windfall gold project in Quebec.”

Read: Are institutional investors returning to commodities?

The acquisition will be under private placement, with the share offering to close on or near Nov. 2, 2018.

“La Caisse is pleased to reinvest in Osisko Mining alongside a management team that has significant experience, including launching one of the largest mining projects in Quebec,” said Mathieu Gauvin, senior vice-president for Quebec, at the Caisse.

Read: Caisse ups stake in Indian solar company

Copyright © 2019 Transcontinental Media G.P. Originally published on benefitscanada.com

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