TORONTO, March 08, 2023 (GLOBE NEWSWIRE) -- Osisko Green Acquisition Limited (TSX: "GOGR" and "GOGR.WT") ("Osisko Green" or the "Corporation") announced today that it has extended the permitted timeline to complete a qualifying acquisition to September 8, 2023 (the "Extension"). The Extension was previously approved at a special meeting of the holders (the "Class A Restricted Voting Shareholders") of Class A restricted voting shares of Osisko Green (the "Class A Restricted Voting Shares") held on February 28, 2023. Osisko Green's board of directors has also approved the Extension, which is effective as of March 8, 2023.

In connection with the Extension, Class A Restricted Voting Shareholders were provided with the option to redeem all or a portion of their Class A Restricted Voting Shares and an aggregate of 20,277,299 Class A Restricted Voting Shares were deposited and not withdrawn and will accordingly be redeemed. A payment of $10.17 per redeemed Class A Restricted Voting Share is being made to redeeming Class A Restricted Voting Shareholders, subject to withholding. Following the redemptions, Osisko Green is expected to have 5,539,701 Class A Restricted Voting Shares issued and outstanding.

About Osisko Green Acquisition Limited

The Corporation is a special purpose acquisition corporation incorporated under the laws of the Province of British Columbia for the purpose of effecting, directly or indirectly, an acquisition of one or more businesses or assets, by way of a merger, amalgamation, arrangement, share exchange, asset acquisition, share purchase, reorganization, or any other similar business combination within a specified period of time.

FORWARD-LOOKING STATEMENTS

This press release may contain forward‐looking information within the meaning of applicable securities legislation and includes statements which reflect Osisko Green's current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Osisko Green's control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward‐looking information. Such risks and uncertainties include, but are not limited to, the risk that a qualifying acquisition may not be completed by Osisko Green's qualifying acquisition deadline (as extended), the failure to satisfy the conditions to the consummation of any proposed qualifying acquisition, the impact of the COVID-19 pandemic, the ongoing conflict between Russia and Ukraine and any actions taken by other countries in response thereto, such as sanctions or export controls and the factors discussed under "Risk Factors" in the Corporation's final prospectus dated August 30, 2021. Osisko Green undertakes no obligation to update such forward‐looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

FOR FURTHER INFORMATION PLEASE CONTACT:

Osisko Green Acquisition Limited
Alexander Dann
Chief Financial Officer & Corporate Secretary
[email protected]