On March 27, 2019 Chantrell Ventures Corp. (“Chantrell” or the “Company”) announced that it had closed the first tranche of its previously announced private placement offering (the “Offering”) of subscription receipts (each, a “Subscription Receipt”). The Company issued an aggregate of 4,571,100 Subscription Receipts at a price of $3.88 per Subscription Receipt for proceeds of $17,735,868. The Offering was conducted on a “bought deal” basis through a syndicate led by Canaccord Genuity Corp. The Offering was completed in connection with the Company’s proposed business combination transaction (the “Proposed Transaction”) with Osisko Mining Inc. (“Osisko”).

The gross proceeds of the Offering (the “Escrowed Proceeds”) have been deposited into escrow with Computershare Trust Company of Canada as escrow agent and will be released to the Company upon notice by the Company to the escrow agent that all conditions precedent to the Proposed Transaction have been completed, satisfied or waived (the “Release Conditions”).

Chantrell Ventures Corp. is currently evaluating mining projects, in particular, gold and copper properties in the Americas.

Peterson McVicar acted for Chantrell Ventures Corp. with a team that included Dennis Peterson, Jonathan Clark and Taylor Dignan.