INVESTMENT HIGHLIGHTS

Appian has entered into a credit agreement with Osisko Development Corp. for a senior secured project loan facility of up to US$450 million for the development and construction of its Cariboo Gold Project in British Columbia, Canada.

Osisko Development Corp. is a continental North American gold development company focused on past-producing mining camps located in mining friendly jurisdictions with district scale potential. The company’s objective is to become an intermediate gold producer by advancing its flagship 100%-owned Cariboo Gold Project.

The Cariboo Gold Project is permitted and near-construction ready, led by an experienced management team with significant mine development experience. The project has the potential to deliver 1.89 million ounces of gold over a 10-year mine life as outlined in the 2025 Feasibility Study. It also strengthens the diversification of Appian’s portfolio, complementing the current exposure to base metals and critical minerals, while benefiting from gold’s typically uncorrelated return profile.

Investment highlights:

• US$450 million senior secured project loan facility with proceeds used to fund- the development and construction of the Cariboo Gold Project in British Columbia, Canada
  • US$100 million initial draw enables Osisko Development to accelerate pre-construction activities and materially de-risk the Project ahead of a final investment decision
  • US$350 million in subsequent draws available on a final investment decision subject to certain customary project milestones and conditions precedent
• Initial draw to support an infill drilling campaign, certain detailed engineering, procurement, underground development, operational readiness planning, and other early works activities
• The transaction highlights the appeal and benefits of Appian’s focused credit and royalties offering

For more information about Osisko Development Corp. please click here.