SEC Form SC 13G filed by Osisko Gold Royalties Ltd

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SC 13G 1 or_111324.htm BANK OF MONTREAL or_111324.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Osisko Gold Royalties Ltd
(Name of Issuer)
Common Shares
(Title of Class of Securities)
68827L101
(CUSIP Number)
September 30, 2024
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[X] Rule 13d-1(b)
[   ] Rule 13d-1(c)
[   ] Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see Instructions).
CUSIP No.: 68827L101
       
1
NAME OF REPORTING PERSON
BANK OF MONTREAL
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [   ]
(b) [   ]
3 SEC USE ONLY
4
CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5
SOLE VOTING POWER
10,217,834
6
SHARED VOTING POWER
7
SOLE DISPOSITIVE POWER
10,217,887
8
SHARED DISPOSITIVE POWER
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,217,887
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[   ]
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.5%
12
TYPE OF REPORTING PERSON
HC
CUSIP No.: 68827L101
       
1
NAME OF REPORTING PERSON
BANK OF MONTREAL HOLDING INC.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [   ]
(b) [   ]
3 SEC USE ONLY
4
CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5
SOLE VOTING POWER
10,193,917
6
SHARED VOTING POWER
7
SOLE DISPOSITIVE POWER
10,193,970
8
SHARED DISPOSITIVE POWER
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,193,970
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[   ]
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.5%
12
TYPE OF REPORTING PERSON
BK
CUSIP No.: 68827L101
       
1
NAME OF REPORTING PERSON
BMO NESBITT BURNS INC. WEALTH MANAGEMENT
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [   ]
(b) [   ]
3 SEC USE ONLY
4
CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5
SOLE VOTING POWER
2,965,217
6
SHARED VOTING POWER
7
SOLE DISPOSITIVE POWER
2,965,270
8
SHARED DISPOSITIVE POWER
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,965,270
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[   ]
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.6%
12
TYPE OF REPORTING PERSON
BD
CUSIP No.: 68827L101
       
1
NAME OF REPORTING PERSON
BMO NESBITT BURNS SECURITIES LTD.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [   ]
(b) [   ]
3 SEC USE ONLY
4
CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5
SOLE VOTING POWER
0
6
SHARED VOTING POWER
7
SOLE DISPOSITIVE POWER
53
8
SHARED DISPOSITIVE POWER
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
53
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[   ]
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.0%
12
TYPE OF REPORTING PERSON
BD
CUSIP No.: 68827L101
       
1
NAME OF REPORTING PERSON
BMO PRIVATE INVESTMENT COUNSEL INC.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [   ]
(b) [   ]
3 SEC USE ONLY
4
CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5
SOLE VOTING POWER
2,103,564
6
SHARED VOTING POWER
7
SOLE DISPOSITIVE POWER
2,103,564
8
SHARED DISPOSITIVE POWER
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,103,564
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[   ]
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.1%
12
TYPE OF REPORTING PERSON
IA
CUSIP No.: 68827L101
       
1
NAME OF REPORTING PERSON
BMO ASSET MANAGEMENT INC.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [   ]
(b) [   ]
3 SEC USE ONLY
4
CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5
SOLE VOTING POWER
2,099,734
6
SHARED VOTING POWER
7
SOLE DISPOSITIVE POWER
2,099,734
8
SHARED DISPOSITIVE POWER
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,099,734
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[   ]
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.1%
12
TYPE OF REPORTING PERSON
IA
CUSIP No.: 68827L101
       
1
NAME OF REPORTING PERSON
BMO NESBITT BURNS INC.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [   ]
(b) [   ]
3 SEC USE ONLY
4
CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5
SOLE VOTING POWER
7,228,700
6
SHARED VOTING POWER
7
SOLE DISPOSITIVE POWER
7,228,700
8
SHARED DISPOSITIVE POWER
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,228,700
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[   ]
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.9%
12
TYPE OF REPORTING PERSON
BD
CUSIP No.: 68827L101
       
1
NAME OF REPORTING PERSON
BMO FINANCIAL CORP.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [   ]
(b) [   ]
3 SEC USE ONLY
4
CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5
SOLE VOTING POWER
10,717
6
SHARED VOTING POWER
7
SOLE DISPOSITIVE POWER
10,717
8
SHARED DISPOSITIVE POWER
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,717
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[   ]
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.0%
12
TYPE OF REPORTING PERSON
HC
CUSIP No.: 68827L101
       
1
NAME OF REPORTING PERSON
BMO CAPITAL MARKETS CORP.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [   ]
(b) [   ]
3 SEC USE ONLY
4
CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5
SOLE VOTING POWER
9,500
6
SHARED VOTING POWER
7
SOLE DISPOSITIVE POWER
9,500
8
SHARED DISPOSITIVE POWER
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,500
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[   ]
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.0%
12
TYPE OF REPORTING PERSON
BD
CUSIP No.: 68827L101
       
1
NAME OF REPORTING PERSON
BMO BANK N.A.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [   ]
(b) [   ]
3 SEC USE ONLY
4
CITIZENSHIP OR PLACE OF ORGANIZATION
ILLINOIS
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5
SOLE VOTING POWER
1,217
6
SHARED VOTING POWER
7
SOLE DISPOSITIVE POWER
1,217
8
SHARED DISPOSITIVE POWER
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,217
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[   ]
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.0%
12
TYPE OF REPORTING PERSON
BK
CUSIP No.: 68827L101
       
1
NAME OF REPORTING PERSON
BANK OF MONTREAL, NEWYORK BRANCH
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [   ]
(b) [   ]
3 SEC USE ONLY
4
CITIZENSHIP OR PLACE OF ORGANIZATION
Ontario
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5
SOLE VOTING POWER
13,200
6
SHARED VOTING POWER
7
SOLE DISPOSITIVE POWER
13,200
8
SHARED DISPOSITIVE POWER
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,200
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[   ]
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.0%
12
TYPE OF REPORTING PERSON
BD
CUSIP No.: 68827L101
ITEM 1(a). NAME OF ISSUER:
Osisko Gold Royalties Ltd
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
1100 AVENUE DES CANADIENS-DE-MONTREAL, SUITE 300, MONTREAL, QUEBEC, CANADA, H3B 2S2
ITEM 2(a). NAME OF PERSON FILING:
BANK OF MONTREAL
BANK OF MONTREAL HOLDING INC.
BMO NESBITT BURNS INC. WEALTH MANAGEMENT
BMO NESBITT BURNS SECURITIES LTD.
BMO PRIVATE INVESTMENT COUNSEL INC.
BMO ASSET MANAGEMENT INC.
BMO NESBITT BURNS INC.
BMO FINANCIAL CORP.
BMO CAPITAL MARKETS CORP.
BMO BANK N.A.
BANK OF MONTREAL, NEWYORK BRANCH
ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
100 King Street West, 21st Floor, Toronto, Ontario, M5X 1A1, Canada
ITEM 2(c). CITIZENSHIP:
Canada
Canada
Canada
Canada
Canada
Canada
Canada
DELAWARE
DELAWARE
ILLINOIS
Ontario
ITEM 2(d). TITLE OF CLASS OF SECURITIES:
Common Shares
ITEM 2(e). CUSIP NUMBER:
68827L101
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTION 240.13d-1(b), or 13d-2(b) or (c) CHECK WHETHER THE PERSON FILING IS A:
(a)
[X]
Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78c);
(b)
[X]
Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
[ ]
Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
[ ]
Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8);
(e)
[X]
An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E);
(f)
[ ]
An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F);
(g)
[X]
A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G);
(h)
[ ]
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
[ ]
A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
[ ]
A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J);
(k)
[ ]
Group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d1(b)(1)(ii)(J), please specify the type of institution:
ITEM 4. OWNERSHIP
(a) Amount beneficially owned:
10,217,887
(b) Percent of class:
5.5%
(c) Number of shares as to which the person has:
(i) sole power to vote or to direct the vote:
BANK OF MONTREAL - 10,217,834
BANK OF MONTREAL HOLDING INC. - 10,193,917
BMO NESBITT BURNS INC. WEALTH MANAGEMENT - 2,965,217
BMO NESBITT BURNS SECURITIES LTD. - 0
BMO PRIVATE INVESTMENT COUNSEL INC. - 2,103,564
BMO ASSET MANAGEMENT INC. - 2,099,734
BMO NESBITT BURNS INC. - 7,228,700
BMO FINANCIAL CORP. - 10,717
BMO CAPITAL MARKETS CORP. - 9,500
BMO BANK N.A. - 1,217
BANK OF MONTREAL, NEWYORK BRANCH - 13,200
(ii) shared power to vote or to direct the vote:
(iii) sole power to dispose or direct the disposition of:
BANK OF MONTREAL - 10,217,887
BANK OF MONTREAL HOLDING INC. - 10,193,970
BMO NESBITT BURNS INC. WEALTH MANAGEMENT - 2,965,270
BMO NESBITT BURNS SECURITIES LTD. - 53
BMO PRIVATE INVESTMENT COUNSEL INC. - 2,103,564
BMO ASSET MANAGEMENT INC. - 2,099,734
BMO NESBITT BURNS INC. - 7,228,700
BMO FINANCIAL CORP. - 10,717
BMO CAPITAL MARKETS CORP. - 9,500
BMO BANK N.A. - 1,217
BANK OF MONTREAL, NEWYORK BRANCH - 13,200
(iv) shared power to dispose or to direct the disposition of:
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ].
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:
Not Applicable
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:
Not Applicable
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:
Each reporting person may be deemed to be a member of a group with respect to the issuer or securities of the issuer for the purposes of Section 13(d) or 13(g) of the Act. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act) with any other person as a partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding, or disposing of securities of the issuer or otherwise with respect to the issuer or any securities of the issuer or (ii) a member of any syndicate or group with respect to the issuer or any securities of the issuer.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP:
Each reporting person may be deemed to be a member of a group with respect to the issuer or securities of the issuer for the purposes of Section 13(d) or 13(g) of the Act. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act) with any other person as a partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding, or disposing of securities of the issuer or otherwise with respect to the issuer or any securities of the issuer or (ii) a member of any syndicate or group with respect to the issuer or any securities of the issuer.
ITEM 10. CERTIFICATION:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
CUSIP No.: 68827L101
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
November 13 2024
BANK OF MONTREAL
By:
/s/ Kathryn Cenac
Name:
Kathryn Cenac
Title:
Managing Director - Regulatory Solutions Group
Attention — Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001).
CUSIP No.: 68827L101
Joint Filing Agreement


In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, each of the undersigned entities, as applicable, pursuant to a duly executed power of attorney, hereby agrees to this and any future joint filing of Schedule 13G (including any and all amendments thereto) to be made on their behalf and further agrees to the filing of this Agreement as an Exhibit to such filing(s). In addition, each party to this Agreement consents to the filing of this and any future Schedule 13G (including any and all amendments to such filings) by Bank of Montreal.

This Agreement may be executed in any number of counterparts all of which taken together shall constitute one and the same instrument.

IN WITNESS WHEREOF, the undersigned hereby execute this Agreement this 13th day of November, 2024.


BANK OF MONTREAL


_______________________________
Kathryn Cenac
Managing Director Regulatory Solutions Group



BANK OF MONTREAL EUROPE PUBLIC LIMITED COMPANY

*____________________________________


BMO CAPITAL MARKETS CORP.

*____________________________________


BMO ASSET MANAGEMENT INC.

*____________________________________


BMO DELAWARE TRUST COMPANY

*____________________________________


BMO CAPITAL MARKETS LIMITED

*____________________________________


BMO FAMILY OFFICE, LLC

*____________________________________


BMO FINANCIAL CORP.

*____________________________________


BMO BANK NATIONAL ASSOCIATION

*____________________________________


BMO NESBITT BURNS INC.

*___________________________________


BMO NESBITT BURNS SECURITIES LTD.

*____________________________________


BMO PRIVATE INVESTMENT COUNSEL INC.

*____________________________________


BMO TRUST COMPANY

*____________________________________


STOKER OSTLER WEALTH ADVISORS, INC.

*____________________________________


BMO INVESTORLINE INC.

*____________________________________


BANK OF MONTREAL HOLDING INC.

*____________________________________

*Pursuant to Power of Attorney filed herewith.
CUSIP No.: 68827L101
POWER OF ATTORNEY

For executing Schedules 13G and 13D, 13G/D Joint Filing Agreement and Forms 13F and N-PX

Each of the undersigned entities represents that the individuals signing on behalf of the entity is duly authorized to do so, and hereby constitutes and appoints Kathryn Cenac, Managing Director - Regulatory Solutions Group, Bank of Montreal and Michelle Lipowsky, Head, Business Risk and Solution, Bank of Montreal, as his or her true and lawful attorney-in-fact and agent with full power of substitution and resubstitution, for him or her and in his or her name, place, and stead, in any and all capacities, to:

(1) complete and execute for and on behalf of the undersigned filings on Schedules 13G and 13D in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the Act) and the rules and regulations promulgated thereunder, or any successor laws and regulations;

(2) complete and execute for and on behalf of the undersigned a joint filing agreement to provide for the joint filing on Schedules 13G or 13D in accordance with Section 13(d) of the Act and the rules and regulations promulgated thereunder, or any successor laws and regulations;

(3) complete and execute for and on behalf of the undersigned filings on Form 13F as required by Section 13(f) of the Act and the rules and regulations promulgated thereunder, or any successor laws and regulations;

(4) complete and execute for and on behalf of the undersigned filings on Form N-PX as required by Section 14A of the Act and the rules and regulations promulgated thereunder, or any successor laws and regulations;

(5) do and perform any and all acts for and on behalf of the undersigned that may be necessary or desirable to complete the execution of any such Schedules 13G and 13D, joint filing agreement and Forms 13F and N-PX and the timely filing of such forms and agreements with the United States Securities and Exchange Commission and any other authority; and

(6) take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to the Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in his or her discretion.

Each of the undersigned entities grants to said attorney-in-fact and agent full power and authority to do and perform each and every act necessary to be done in order to effectuate the same as fully, to all intents and purposes, as it might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof. The undersigned entities acknowledge that the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, are not assuming any of the undersigneds responsibilities to comply with Sections 13(d), 13(f) or 14A of the Act and the rules and regulations promulgated thereunder.

This Power of Attorney shall remain in effect until the undersigned entity is no longer required to file Schedules 13G, 13D or Forms 13F or N-PX, unless earlier revoked by a duly authorized officer of the undersigned entity in writing and delivered to the foregoing attorney-in-fact.

This Power of Attorney Signature Page may be executed in any number of counterparts, each of which shall be an original, but all of which together shall constitute one instrument. A facsimile or portable document format (.pdf) copy, or an electronic copy by way of reliable electronic signature technology, of the signature of a party to this Power of Attorney on any such counterpart shall be fully effective as in an original signature.

IN WITNESS WHEREOF, the undersigned duly authorized individuals have caused this Power of Attorney to be executed as of November 13, 2024, on behalf of the respective entities.
Signatures on following pages.


BANK OF MONTREAL EUROPE PUBLIC LIMITED COMPANY

By: /s/ Jane Anne Negi___________
Name: Jane Anne Negi
Title: Chief Executive Officer

By: /s/ Noel Reynolds___________
Name: Noel Reynolds
Title: Chief Finance Officer


BMO ASSET MANAGEMENT INC.

By: /s/ Bill Bamber___________
Name: Bill Bamber
Title: Head

By: /s/ Sara Petrich___________
Name: Sara Petrich
Title: Head of Exchange Traded Funds and
Structured Products


BMO CAPITAL MARKETS CORP.

By: /s/ Michael Forlenza___________
Name: Michael Forlenza
Title: Chief Operating Officer


BMO DELAWARE TRUST COMPANY

By: /s/ Anne Booth Brockett___________
Name: Anne Booth Brockett
Title: Chief Executive Officer and President


BMO CAPITAL MARKETS LIMITED

By: /s/ William Smith___________
Name: William Smith
Title: Chief Executive Officer

By: /s/ Paula Young___________
Name: Paula Young
Title: Company Secretary


BMO FAMILY OFFICE, LLC

By: /s/ Amy Griman___________
Name: Amy Griman
Title: Chief Executive Officer and President


BMO FINANCIAL CORP.

By: /s/ Michele Havens___________
Name: Michele Havens
Title: Executive Vice President, and
Head, U.S. Wealth Management

By: /s/ Michelle Magnaye___________
Name: Michelle Magnaye
Title: Assistant Corporate Secretary


BMO BANK NATIONAL ASSOCIATION

By: /s/ Darrel Hackett___________
Name: Darrel Hackett
Title: Executive Vice President, and Head,
U.S. Wealth Management


BMO NESBITT BURNS INC.

By: /s/ Deland Kamanga___________
Name: Deland Kamanga
Title: Director

By: /s/ Juron Grant-Kinnear___________
Name: Juron Grant-Kinnear
Title: Assistant Corporate Secretary


BMO NESBITT BURNS SECURITIES LTD.

By: /s/ Dave Persaud___________
Name: Devanand (Dave) Persaud
Title: Director

By: /s/ John Cook___________
Name: John Cook
Title: Corporate Secretary


BMO PRIVATE INVESTMENT COUNSEL INC.

By: /s/ Gilles Ouellette___________
Name: Gilles Ouellette
Title: Director

By: /s/ Juron Grant-Kinnear__________
Name: Juron Grant-Kinnear
Title: Corporate Secretary


STOKER OSTLER WEALTH ADVISORS, INC.

By: /s/ Michelle L. Decker___________
Name: Michelle L. Decker
Title: Chief Operating Officer


BMO TRUST COMPANY

By: /s/ Elizabeth Dorsch___________
Name: Elizabeth Dorsch
Title: Chief Executive Officer

By: /s/ Bruce Ferman___________
Name: Bruce Ferman
Title: Director


BMO INVESTORLINE INC.

By: /s/ Deland Kamanga___________
Name: Deland Kamanga
Title: Director

By: /s/ Juron Grant-Kinnear___________
Name: Juron Grant-Kinnear
Title: Corporate Secretary


BANK OF MONTREAL HOLDING INC.

By: /s/ Olaf Sheikh___________
Name: Olaf Sheikh
Title: Director
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Recent Analyst Ratings for
$OR

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  • Osisko Announces Preliminary Q1 2025 GEO Deliveries and Strong Quarterly Cash Margin

    MONTREAL, April 09, 2025 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the "Company" or "Osisko") (OR: TSX & NYSE) is pleased to provide an update on its first quarter 2025 preliminary deliveries, revenues and cash margin, as well as on its cash and debt positions as at March 31st, 2025. All monetary amounts included in this report are expressed in United States dollars, unless otherwise noted. PRELIMINARY Q1 2025 RESULTS Osisko earned 19,014 attributable gold equivalent ounces1 ("GEOs") in the first quarter of 2025. Osisko recorded preliminary revenues from royalties and streams of $54.9 million during the first quarter and preliminary cost of sales (excluding depletion) of $1.6 mi

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  • Osisko Files 2024 Year-End Disclosure Documents

    MONTRÉAL, March 28, 2025 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the "Corporation" or "Osisko") ((TSX &, NYSE:OR) announces that its Annual Information Form, Consolidated Annual Financial Statements and Management's Discussion and Analysis for the year ended December 31, 2024 have been filed with Canadian securities regulatory authorities. Osisko has also filed its Annual Report on Form 40-F for the year ended December 31, 2024 with the U.S. Securities and Exchange Commission. Copies of these documents may be obtained via www.sedarplus.ca, www.sec.gov (for the Form 40-F) or www.osiskogr.com. Shareholders may also receive a hard copy of these documents without charge upon request t

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  • Osisko Declares First Quarter 2025 Dividend

    MONTREAL, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the "Company" or "Osisko") (OR: TSX & NYSE) is pleased to announce that the Board of Directors has approved a first quarter 2025 dividend of C$0.065 per common share. The dividend will be paid on April 15, 2025 to shareholders of record as of the close of business on March 31, 2025. This dividend is an "eligible dividend" as defined in the Income Tax Act (Canada). For shareholders residing in the United States, the U.S. dollar equivalent will be determined based on the daily rate published by the Bank of Canada on March 31, 2025. The Company also wishes to remind its shareholders that it has implemented a dividend rei

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  • Osisko Appoints David Smith to Its Board of Directors

    MONTRÉAL, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd ("Osisko" or the "Corporation") (OR: TSX & NYSE) is pleased to announce the appointment of Mr. David Smith to its Board of Directors.         Most recently, Mr. Smith retired as Executive Vice-President, Finance and Chief Financial Officer of Agnico Eagle Mines Limited ("Agnico Eagle") in May 2023, having held the position since 2012. He originally started with Agnico Eagle in 2005, at which time he formalized the company's Investor Relations program. Prior to 2005, Mr. Smith was a mining analyst and has also held a variety of mining engineering positions in Canada and abroad. He is a Chartered Director and is currentl

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  • Osisko Announces Appointment of Jason Attew as President and Chief Executive Officer

    MONTREAL, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd ("Osisko" or the "Corporation") (NYSE:OR) is pleased to announce the appointment of Mr. Jason Attew as President and Chief Executive Officer, effective no later than January 2nd, 2024. Mr. Attew will also join the Board of Directors of Osisko. Mr. Attew is an accomplished mining executive with almost 30 years' experience in the industry. He brings to Osisko proven corporate leadership, a track record of successful team building and deep mining industry connections, built upon a background advising on some of the most transformational mergers and acquisitions in the mining sector. Mr. Attew's appointment is the culmin

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  • Osisko Announces Appointment of Paul Martin as Interim CEO

    MONTREAL, July 05, 2023 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd ("Osisko" or the "Corporation") (OR: TSX & NYSE) today announced the appointment of Mr. Paul Martin, an experienced mining executive, as its interim Chief Executive Officer, and the departure of its President and Chief Executive Officer, Mr. Sandeep Singh, effective immediately. Osisko's Board of Directors has commenced a search for a new permanent President and Chief Executive Officer. Mr. Martin has significant experience in multi-operational, internationally focused mining companies. His appointment will ensure a smooth transition and continuity of Osisko's existing disciplined strategy while the Board undertake

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$OR
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  • Osisko Announces Preliminary Q1 2025 GEO Deliveries and Strong Quarterly Cash Margin

    MONTREAL, April 09, 2025 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the "Company" or "Osisko") (OR: TSX & NYSE) is pleased to provide an update on its first quarter 2025 preliminary deliveries, revenues and cash margin, as well as on its cash and debt positions as at March 31st, 2025. All monetary amounts included in this report are expressed in United States dollars, unless otherwise noted. PRELIMINARY Q1 2025 RESULTS Osisko earned 19,014 attributable gold equivalent ounces1 ("GEOs") in the first quarter of 2025. Osisko recorded preliminary revenues from royalties and streams of $54.9 million during the first quarter and preliminary cost of sales (excluding depletion) of $1.6 mi

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  • Osisko Reports Record 2024 Results and Provides 2025 Guidance and New 5-Year Outlook

    MONTRÉAL, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the "Company" or "Osisko") (OR: TSX & NYSE) is pleased to announce its consolidated financial results for the year 2024. Amounts presented are in United States Dollars, except where otherwise noted. 2024 Financial Highlights 80,740 gold equivalent ounces ("GEOs1") earned (94,323 GEOs in 2023);Record revenues from royalties and streams of $191.2 million ($183.2 million in 2023);Record cash flows generated by operating activities of $159.9 million ($138.4 million in 2023);Net earnings of $16.3 million, $0.09 per basic share (net loss of $37.4 million, $0.20 per basic share in 2023);Adjusted earnings2 of $97.3 millio

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  • Osisko Announces Preliminary Q4 2024 Geo Deliveries with Record Annual Cash Margin

    MONTRÉAL, Jan. 07, 2025 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the "Company" or "Osisko") (OR: TSX & NYSE) is pleased to provide an update on its fourth quarter 2024 preliminary deliveries, revenues and cash margin, as well as on its cash and debt positions as of December 31st, 2024. All monetary amounts included in this report are expressed in Canadian dollars1, unless otherwise noted. PRELIMINARY Q4 2024 RESULTS Osisko earned 20,005 attributable gold equivalent ounces2 ("GEOs") in the fourth quarter of 2024, for a total of 80,740 GEOs in 2024, thereby achieving the mid-point of the Company's revised GEO delivery guidance range of 77,000-83,000 GEOs. Osisko's year-over-year GE

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