Osisko Gold Royalties Ltd and Barolo Ventures Corp. Announce Completion of CDN $100 Million Subscription

Osisko Gold Royalties Ltd and Barolo Ventures Corp. announced, further to their joint news released on October 5, 2020, and October 28, 2020, relating to the "Reverse Take-Over" of Barolo under the rules of the TSX Venture Exchange, the closure of the previously-announced "bought deal" private placement offering of 13,350,000 subscription receipts at a subscription price of CDN $7.50 per Subscription Receipt for aggregated gross proceeds of CDN $100 million.

References to the "Osisko Development" or "Resulting Issuer" are to Barolo in this news release following the RTO's closing. Each subscription receipt allows the holder to receive, for no additional consideration and with no further action on the holder's part on or about the date that the RTO completed.

Each warrant enables the holder to purchase one Resulting Issuer Share for CDN $10.00 for 18 months after the closing of the RTO.

About Barolo Ventures Corp.

Barolo Ventures Corp. is a public company built under the laws of the Province of British Columbia that has shares listed for trading on the TSX-V. Previously, Barolo was engaged in exploring, acquiring, and developing mineral properties in the United States and Canada.

However, the company doesn't have an active business and is now investing in new business opportunities.

Barolo's head office is addressed at 609 Granville Street, Suite 1600, Vancouver, British Columbia, Canada, V7Y 1C3. For further details, you may contact Barolo Ventures Corp.:

• Scott Ackerman/ Director, President, CEO, CFO and Secretary
• Email: sackerman@emprisecapital.com
• Telephone: (778) 331-8508

About Osisko Gold Royalties Ltd

Osisko Royalties is an intermediate metal royalty company focused on the Americas. In June 2014, Osisko commenced activities. The company holds North America and is focused on a portfolio of more than 135 royalties, precious, and streams metal offtakes. Osisko is anchored bi its cornerstone asset. It has a 5% net smelter return royalty on the Canadian Malartic mine, the largest gold mine in Canada.

Besides, Osisko Royalties owns publicly held resource companies such as 17.6% interest in Osisko Metals Incorporated, 14.6% interest in Osisko Mining Inc., and 18.3% interest in Falco Resources Ltd.

Osisko Royalties' head office is addressed at 1100 Avenue des Canadiens-de-Montréal, Suite 300, Montréal, Québec, Canada, H3B 2S2. For further details, you may contact Osisko Gold Royalties Ltd:

• Sandeep Singh, President
• Email: ssingh@osiskogr.com
• Telephone: (514) 940-0670

The Financing's gross proceeds are deposited with the TSX Trust Company and will be released to the Resulting Issuer upon the approval of the escrow release conditions. That includes the waiver or satisfaction of the states closing the RTO and the TSX Venture Exchange conditional approval to list the Resulting Issuer Shares, which could be issued under the Financing and the RTO. If the Escrow Release Conditions are not satisfied on or before January 31, 2021, then the proceeds will be returned to the Subscription Receipts holders, and the Subscription Receipts will be canceled.

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