Osisko Gold pledges up to C$3M to the District of Wells under a three-year agreement tied to the fully permitted Cariboo Gold Project.
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Osisko Gold Group (NYSE: OGG) has signed a three-year support agreement with the District of Wells, B.C., that commits up to $3 million in voluntary payments tied to the company's Cariboo Gold Project.
The deal, effective July 21, covers social and economic initiatives in the district near the project site. Payments come at Osisko's discretion and will be staged over the term for community infrastructure and other priorities the district identifies.
"As the project moves toward construction, this agreement provides us with critical resources and structure to address community needs," District of Wells Mayor Ed Coleman said in a statement.
The agreement is separate from a broader community benefits deal the company is pursuing for the operations phase, Osisko said.
Osisko owns 100% of the Cariboo Gold Project in central British Columbia, which is fully permitted. The company aims to become an intermediate gold producer by developing that camp plus the Tintic Project in Utah.
Neither the property's exploration potential nor Osisko's production timeline is guaranteed. The company warned that permitting, financing, and construction risks could delay or prevent development.
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