TSX-V-listed Osisko Meals has announced the expansion of its leadership team and a C$100-million bought deal financing as part of its strategy to become a leading critical minerals company.

John Burzynski will join the company’s board of directors as executive chairperson and will take a leadership role alongside Robert Wares, who will continue as CEO.

Don Njegovan and Blair Zaritsky will be appointed president and CFO, respectively.

At the same time, Luc Lessard, a director since 2019, will step down from the board but will continue to serve as a technical adviser. Anthony Glavac will also step down as CFO.

The announcement comes in tandem with Osisko’s agreement to raise C$100-million to advance the Gaspé copper project, in Quebec, towards a construction decision, while additional funds will support general corporate purposes.

The financing will be raised through a bought deal financing, underwritten by Canaccord Genuity as the sole bookrunner and co-lead underwriter, alongside BMO Capital Markets and National Bank Financial.

Osisko has granted the underwriters an option to acquire up to an additional C$15-million in any combination of units and flow-through units, exercisable at any time up until the closing date of the transaction.

Commenting on the leadership changes and the financing, Wares welcomed the new members to the company, stating that their industry expertise and track record of creating shareholder value would be invaluable.

On the financing, Wares said that it would provide Osisko with the capital needed to advance the Gaspé project to a construction decision.

“With a stronger balance sheet and an expanded team, we are well-positioned to unlock the full potential of our assets and achieve success in the coming years. I would also like to extend my gratitude to Anthony Glavac and Luc Lessard for their dedication and contributions to the company.”

Burzynski added that Gaspé was one of the most promising, and largest, untapped copper projects in North America.

“Our team has an unparalleled track record of value creation in Québec – first with Canadian Malartic and most recently with Windfall – and we look forward to recreating that success at Gaspé.”

“Shareholders of Osisko Metals stand to benefit from the growing demand for copper, and will have considerable exposure to a rapidly growing deposit through the Gaspé copper project.

"I am excited to collaborate with the management team and the board as we work together to create a leading critical metals company in North America," said Burzynski.