Montréal, March 4, 2022 – Osisko Development Corp. (“Osisko Development” or the “Company”) (TSXV: ODV) is pleased to announce the successful closing of the first tranche of the Company’s previously-announced non-brokered private placement, pursuant to which a total of 24,215,099 subscription receipts of the Company (the “Subscription Receipts”) were issued at a price of US$3.50 per Subscription Receipt, for gross proceeds of approximately US$84.8 million (the “Offering”). The Company anticipates closing a second tranche of the Offering in late March 2022, pursuant to which an additional up to US$25.5 million of Subscription Receipts may be issued to accommodate additional interest for the Subscription Receipts.