Osino Resources Completes Acquisition by Shanjin International
Osino Resources Corp. (TSX:OSI.V) (NSX:OSN) (FSE:RSR1) (OTCQX:OSIIF) is excited to announce the successful completion of its acquisition by Shanjin International Gold Co., Ltd., formerly known as Yintai Gold Co., Ltd. This strategic acquisition involved the purchase of all outstanding common shares of Osino at a cash price of C$1.90 per share, carried out through a statutory plan of arrangement in accordance with the Business Corporations Act.
Details of the Acquisition
In the aftermath of the transaction, Shanjin intends to initiate the delisting of Osino Shares from the TSX Venture Exchange and will also apply to terminate Osino's status as a reporting issuer. These actions are expected to significantly simplify the company's operational reporting obligations.
About Osino Resources Corp.
Osino Resources Corp. is a gold exploration and development company based in Canada, focusing on the rapid advancement of its flagship Twin Hills Gold Project, located in central Namibia. The company is strategically positioned within Namibia's Damara sedimentary mineral belt, close to the operational Navachab and Otjikoto Gold Mines.
Geographical Advantages of Twin Hills Project
The Twin Hills Gold Project enjoys a prime location in central and northern Namibia, ensuring easy access to vital infrastructure. Essential resources such as paved highways, railways, power supply, and water are conveniently nearby, which aids in operational efficiency. Additionally, Namibia's reputation as a mining-friendly nation further enhances the attractiveness of Osino's initiatives.
Future Directions for Osino Resources
As Osino embarks on its journey under Shanjin's ownership, the company is well-positioned to fully leverage its exploration capabilities and advance its project developments. The supportive political and social climate in Namibia is anticipated to play a crucial role in propelling Osino's future success as it continues to pursue its objectives in gold exploration and production.
Contact Information
For any inquiries, interested individuals can contact Osino Resources Corp.:
Yaron Conforti
Corporate Development
+1-604-687-2038
yconforti@osinoresources.com
Frequently Asked Questions
What is the purpose of Osino's acquisition by Shanjin?
The acquisition is intended to streamline operations and enhance the development of Osino's assets, especially the Twin Hills Gold Project.
What does Shanjin intend to do after the acquisition?
Shanjin plans to delist Osino Shares from the TSX Venture Exchange and will seek to terminate Osino's status as a reporting issuer.
Where is the Twin Hills Gold Project located?
The Twin Hills Gold Project is situated in central Namibia, within the promising Damara sedimentary mineral belt.
How does the geographical location benefit Osino?
The project's location allows for easy access to critical infrastructure, which improves operational efficiency and lowers costs.
Who should be contacted for more information about Osino?
For further information, reach out to Yaron Conforti at Osino Resources Corp. via email or phone.
