Osino and Shanjin (Formerly Known as Yintai Gold) Announce Closing of Transaction
VANCOUVER, British Columbia, Aug. 29, 2024 (GLOBE NEWSWIRE) -- Osino Resources Corp. (TSX:OSI.V) (NSX:OSN) (FSE:RSR1) (OTCQX:OSIIF) ("Osino" or the "Company") is pleased to announce the successful completion of the previously announced acquisition by Shanjin International Gold Co., Ltd. (formerly known as Yintai Gold Co., Ltd.) ("Shanjin") of all of the outstanding common shares of Osino (each, an “Osino Share”) for cash consideration of C$1.90 for each Osino Share pursuant to a statutory plan of arrangement under Business Corporations Act (British Columbia).
Shanjin intends to cause Osino to delist the Osino Shares from the TSX Venture Exchange, to submit an application for it to cease to be a reporting issuer, and to otherwise terminate its public company reporting requirements as soon as possible.
About Osino Resources Corp.
Osino is a Canadian gold exploration and development company focused on the fast-tracked development of our wholly owned, Twin Hills Gold Project in central Namibia. Osino has a commanding ground position within Namibia's prospective Damara sedimentary mineral belt, mostly in proximity to and along strike of the producing Navachab and Otjikoto Gold Mines. Our projects are favorably located in central and northern Namibia and are within easy reach from Namibia's capital city, Windhoek. By virtue of its location, the Twin Hills project benefits significantly from Namibia's well-established infrastructure with paved highways, railway, power and water in close proximity. Namibia is mining-friendly and lauded as one of the continent's most politically and socially stable jurisdictions.
Further details are available on Osino's website at https://osinoresources.com and under Osino's profile on SEDAR+ at www.sedarplus.ca.
On behalf of the Board of Directors
Heye Daun, President and CEO
Contact Information
Osino Resources Corp.
Yaron Conforti
Corporate Development
+1-604-687-2038
yconforti@osinoresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation,statements and information with respect to statements regarding the delisting of the Osino Shares, the submission of the application to cease to be a reporting issuer and the termination of Osino’s public company reporting requirements. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Although Osino has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in Osino's most recent annual management's discussion and analysis which is available on Osino's profile on SEDAR+ at www.sedarplus.com. Osino does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
