Osisko Gold Royalties Ltd and Barolo Ventures Corp. Announce Completion of CDN $100 Million Subscription Receipt Offering to Finance "Osisko Development Corp." - Seite 2

The Financing was conducted on a "bought deal" basis through a syndicate of underwriters co-led by Canaccord Genuity Corp. and National Bank Financial Inc., and including BMO Nesbitt Burns Inc., Eight Capital, CIBC World Markets Inc., Credit Suisse Securities (Canada), Inc., Desjardins Capital Markets, RBC Dominion Securities Inc., Scotia Capital Inc., Cormark Securities Inc., Haywood Securities Inc., Industrial Alliance Securities Inc., Paradigm Capital Inc., PI Financial Corp., Raymond James Ltd., Sprott Capital Partners, TD Securities Inc., Clarus Securities Inc. and Echelon Wealth Partners Inc. (collectively, the "Underwriters").

For their services in connection with the completion of the Financing, upon the conversion of the Subscription Receipts, the Underwriters will receive a cash commission equal to 5.0% of the gross proceeds of the Financing; provided that a reduced cash commission equal to 2.0% shall be payable to the Underwriters in respect of subscribers on the President's List.

Insiders of the Osisko Royalties have subscribed for Subscription Receipts pursuant to the Financing. Any issuance of Subscription Receipts to an insider ("Insider Participation") will be considered to be a "related party transaction" (within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Osisko Royalties has relied on exemptions from the "formal valuation" and "minority approval" requirements of MI 61-101 in respect of any Insider Participation.

The Subscription Receipts issued pursuant to the Financing will be subject to a four-month hold period; provided, however, that (i) the Resulting Issuer Shares issuable upon the conversion of the Subscription Receipts will be freely tradeable on the TSX Venture Exchange and not subject to any statutory hold period, and (ii) the Warrants issuable upon the conversion of the Subscription Receipts will not be subject to any statutory hold period.

About Osisko Gold Royalties Ltd

Osisko Royalties is an intermediate precious metal royalty company focused on the Americas that commenced activities in June 2014. Osisko Royalties holds a North American focused portfolio of over 135 royalties, streams and precious metal offtakes. Osisko Royalties' portfolio is anchored by its cornerstone asset, a 5% net smelter return royalty on the Canadian Malartic mine, which is the largest gold mine in Canada. Osisko Royalties also owns a portfolio of publicly held resource companies, including a 14.6% interest in Osisko Mining Inc., 17.6% interest in Osisko Metals Incorporated and a 18.3% interest in Falco Resources Ltd.