Yintai obtains third and final PRC Approval

Yintai obtains third and final PRC Approval

Osino Resources Corp. ( TSX:OSI.V ) ( NSX:OSN ) ( FSE:RSR1 ) (" Osino " or the " Company ") today announced that, in connection with the previously announced statutory plan of arrangement under Business Corporations Act (British Columbia), pursuant to which Yintai Gold Co., Ltd (" Yintai ") will acquire all of the outstanding common shares of Osino for cash consideration of C$1.90 for each Osino Share (the " Arrangement "), all as more particularly described in Osino's management proxy circular dated March 25, 2024 (the " Circular "), Yintai has obtained the approval of the State Administration of Foreign Exchange of the People's Republic of China (the " SAFE Approval ") on May 28, 2024.

The SAFE Approval is the third and final Chinese regulatory approval required. Yintai obtained the approval of the Ministry of Commerce of the People's Republic of China (the " MOFCOM Approval ") on April 16, 2024 and the approval of the National Development and Reform Commission of the People's Republic of China (the " NDRC Approval " and, together with the SAFE Approval and the MOFCOM Approval, the " PRC Approvals ") on May 14, 2024. The receipt of the PRC approvals was a condition of closing for the Arrangement.

The Arrangement therefore remains on track to close on or about the end of H1 2024, subject to approval by the Namibian Competition Commission, which Osino continues to expect to receive in June.

For a more detailed description of the Arrangement, readers should review the Circular.

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. Since its grassroots discovery by Osino in August 2019, Osino has completed more than 250,000m of drilling and has completed a suite of specialist technical studies culminating in the recently published Twin Hills Definitive Feasibility Study ("DFS") dated effective June 12, 2023. The DFS describes a technically simple and economically robust open-pit gold operation with a 13-year mine life and average annual gold production of over 162,000oz per annum.

Osino has a commanding ground position of over 8,000km 2 located within Namibia's prospective Damara sedimentary mineral belt, mostly in proximity to and along strike of the producing Navachab and Otjikoto Gold Mines. Osino is actively exploring a range of gold prospects and targets along the belt by utilizing a portfolio approach geared towards discovery, targeting gold mineralization that fits the broad orogenic gold model.

Our projects are favourably 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.

Qualified Person

David Underwood, BSc. (Hons) is Vice President Exploration of Osino and has reviewed and approved the scientific and technical information in this news release and is a registered Professional Natural Scientist with the South African Council for Natural Scientific Professions (Pr. Sci. Nat. No.400323/11) and a Qualified Person for the purposes of NI 43-101 – Standards of Disclosure for Mineral Projects.

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.
Julia Becker
Investor Relations
+1 604 785 0850
jbecker@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 timing of the approvals and completion of the Arrangement. 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.


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

OSI:CA
The Conversation (0)
Osino obtains Final Court Order approving Plan of Arrangement and Yintai obtains NDRC Approval

Osino obtains Final Court Order approving Plan of Arrangement and Yintai obtains NDRC Approval

Osino Resources Corp. ( TSX:OSI.V ) ( NSX:OSN ) ( FSE:RSR1 ) (" Osino " or the " Company ") today announced that (i) it obtained on May 2, 2024 a final order from the Supreme Court of British Columbia approving the previously announced statutory plan of arrangement under Business Corporations Act (British Columbia), pursuant to which Yintai Gold Co., Ltd (" Yintai ") will acquire all of the outstanding common shares of Osino for cash consideration of C$1.90 for each Osino Share (the " Arrangement "), all as more particularly described in Osino's management proxy circular dated March 25, 2024 (the " Circular "); and (ii) Yintai has obtained the approval of the National Development and Reform Commission of the People's Republic of China.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Osino Grants Deferred Share Units

Osino Grants Deferred Share Units

Osino Resources Corp. ( TSXV:OSI ) ( FSE:RSR1 ) ( OTCQX:OSIIF ) (" Osino " or " the Company ") announces that it has approved the grant of 22,348 DSUs having an aggregate value of $40,000 to independent directors of the Company pursuant to the Company's Omnibus Long-Term Incentive Plan, which was approved by the Company's shareholders at its last shareholder meeting.

About Osino Resources Corp.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Osino Shareholders Approve Arrangement With Yintai

Osino Shareholders Approve Arrangement With Yintai

Osino Resources Corp. ( TSX:OSI.V ) ( NSX:OSN ) ( FSE:RSR1 ) (" Osino " or the " Company ") today announced that, at the Company's special meeting (the " Meeting ") of securityholders (the " Securityholders ") held earlier today, an overwhelming majority of Securityholders voted in favour of the resolution (the " Arrangement Resolution ") authorizing the previously announced statutory arrangement under Business Corporations Act (British Columbia), pursuant to which Yintai Gold Co., Ltd (" Yintai ") will acquire all of the outstanding common shares of Osino (the " Osino Shares ") for cash consideration of C$1.90 for each Osino Share (the " Arrangement "), all as more particularly described in Osino's management proxy circular dated March 25, 2024 (the " Circular ").

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Piche Resources

Ashburton Mineralisation Expands as Project Delivers Wide and High-Grade Uranium Drill Results

Piche Resources Limited (ASX: PR2) (“Piche” or the “Company”) is pleased to announce drilling results from a further eight holes at its Ashburton uranium project in Western Australia. Results to date highlight the potential for both high grade and broad zones of uranium mineralisation.

Keep reading...Show less
Lynette Zang, gold and silver bars.

Lynette Zang: Gold, Silver Price Potential as Public Turns to Sound Money

Lynette Zang, CEO of Zang Enterprises, spoke with the Investing News Network about her outlook for gold and silver prices as central banks around the world signal that they're ready for hyperinflation.

In her view, it's only a matter of time before both precious metals are squeezed higher.

"We'll see, but it wouldn't surprise me to see the spot market break US$3,000 (per ounce) by the end of this year," she said about gold, adding that silver could finish 2024 at the US$50 per ounce level.

Keep reading...Show less
Gold bars on top of papers showing stock exchange numbers.

5 Best-performing ASX Gold Stocks of 2024

The price of gold has maintained an upward trend since the start of the year, setting records in Australian dollars along the way. Its most recent high came on October 29 when it reached AU$4,230.70 per ounce.

Higher pricing comes on the back of increased instability in the Middle East, where tensions have been inching closer to breaking out in a wider regional war that could threaten critical supplies of oil from the region.

Additionally, a change in rate policy by the US Federal Reserve that saw it drop interest rates by 50 basis points on September 18 shifted investor sentiment in gold’s favour. The move came as inflation edged toward the central bank’s target rate of 2 percent, while data indicated a cooling jobs market became more balanced through July and August.

Keep reading...Show less

B2Gold Announces Appointment of Greg Barnes and Basie Maree to its Board of Directors

B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) ("B2Gold" or the "Company") is pleased to announce the appointment of Greg Barnes and Basie Maree to its Board of Directors (the "Board"), effective November 1, 2024. Following the appointments, the B2Gold Board will consist of ten members, nine of which are independent.

Kelvin Dushnisky, Chair of the Board of B2Gold, commented, "On behalf of the Board and executive team, I am pleased to welcome Greg Barnes and Basie Maree to the B2Gold Board. Both Greg and Basie possess a breadth of knowledge and bring deep and distinctive skill sets that will be invaluable to the Company moving forward. Greg's extensive involvement in capital markets and Basie's wide range of operational and project development experience on a global scale will directly benefit the Company as we continue to enhance our investor profile and execute on our business strategy."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Gold bars and Australian dollars.

Siren Gold Rejects Revised Merger Proposal from Federation Mining

Siren Gold (ASX:SNG) confirmed in a Monday (October 28) press release that it has rejected a revised merger proposalfrom Federation Mining, a privately held Australian company.

According to Siren, the proposal it received from Federation on October 25 outlines “indicative but incomplete terms” regarding a proposed merger through which Siren would acquire all Federation's shares.

Among other points, Federation proposed a placement of Siren shares to Federation at an issue price of AU$0.20 per share to raise AU$4.5 million. Federation also called for the termination of an existing share purchase agreement between Siren and Rua Gold (TSXV:RUA,OTCQB:NZAUF), a New Zealand-focused exploration company.

Keep reading...Show less
Brightstar Resources

Brightstar Resources Limited (ASX: BTR) – Reinstatement to Quotation

Description

The suspension of trading in the securities of Brightstar Resources Limited (‘BTR’) will be lifted immediately, following the release by BTR of an announcement in relation to exploration results and BTR’s response to an ASX Price Query.

Keep reading...Show less

Latest Press Releases

Related News

×