Osisko Amends US$450M Appian Facility, De-Risks Cariboo Project

Osisko Gold Group has amended and restated its US$450 million senior secured project loan with Appian Capital Advisory, securing more favorable covenants and a lower overall cost of capital while extending the option to settle accrued interest in kind for an additional 12 months. Following Appian’s review, key technical conditions precedent for the US$350 million second draw have been satisfied and the related requirements tied to the Lowhee Zone infill drilling and ore sorting have been removed, de-risking the Cariboo Gold Project and supporting ongoing construction readiness. The amended facility keeps all existing guarantees and security in place, with the second draw still subject to remaining project-related conditions and customary requirements. Market commentary in one source notes Osisko is Neutral with concerns over persistent losses and cash burn, highlighting ongoing funding needs despite the de-risking. Collectively, the updates reinforce Osisko’s financing flexibility to advance Cariboo toward construction milestones while outlining the continued need for capital to support development.