"We are excited that Osisko Development has garnered such enthusiasm from the investment community in the early days," said Sean Roosen, Chair and CEO of Osisko Development. "The added size and scope of this private placement coupled with our equity investments and expected near-term cash flows, could form the equity foundation of continued development of the Cariboo Gold Project," he added. Osisko Development was launched in late November from the spin-out of assets held by Osisko Gold Royalties and the reverse-takeover of TSX Venture Exchange-listed Barolo Ventures. Under the terms of the deal, Osisko Gold Royalties transferred the properties to Barolo Ventures along with a portfolio of securities valued at approximately $116 million. In addition to the Cariboo Project, these properties include the San Antonio Gold Project in Mexico, Bonanza Ledge II in British Columbia, and the James Bay and Guerrero properties.