Osisko Gold Royalties Ltd. announced that it has entered into a binding letter agreement with Barkerville Gold Mines whereby Osisko has agreed to purchase 32 million common shares of Barkerville as well as a 1.5% NSR royalty on the Cariboo Gold Project, located in British Columbia, Canada. As part of the agreement, Osisko will have the right to appoint two nominees to Barkerville's board of directors. Upon closing of the private placement, Sean Roosen shall be appointed as Co-Chairman of Barkerville, and Chris Lodder, who is currently a director of Barkerville, will serve as Osisko's second nominee.

Additionally, upon closing of the Royalty Financing, Barkerville shall appoint Osisko's nominees to President and Chief Operating Officer of Barkerville. Barkerville's current President and Chief Executive Officer, Thomas J. Obradovich, will continue as Chief Executive Officer. Both the Private Placement and the Royalty Financing are expected to close on or around January 15, 2016, subject to regulatory approvals and other customary conditions.