In addition to the payments at closing, the Company will pay to the Vendors: (i) US$12.5 million in deferred payments (ii) a 2 percent NSR royalty, with a 50 percent buyback right in favor of Osisko Development exercisable within 5 years; and (iii) other contingent payments, rights, and obligations. Thomas E. Bowens, CPG, president of Tintic, and Manager of IG Tintic comments: "What the Tintic team has accomplished in two and a half years, is nothing short of spectacular; from an overlooked and underexplored area to a world-class discovery and mining operation. Osisko Development's recognition of the value of this property demonstrates a common vision with ours at IG Tintic, 75 percent owner and operator of the Tintic joint venture during this period.