Osisko Gold (OGG) has closed a previously announced equity investment from Urion Investments, an affiliate of Trafigura Canada, issuing roughly 9.6 million shares at $3.14 each for gross proceeds of about $30 million, it said Friday.

The shares were priced at a 10% premium to the stock's five-day average price before the deal was signed, Osisko Gold said, adding that it will use the proceeds to develop its Cariboo gold project.

Urion will hold about 3% of the company and agreed to vote its shares with the board's recommendations, with limits on buying or selling its stake for set periods, according to the company's statement.

Shares of the company were up about 2.2% in Friday trading.

Price: 2.85, Change: +0.06, Percent Change: +2.15