Osino Receives the Final Court Order Approving the Plan of Arrangement and Yintai Receives NDRC Approval - Latest Global News

Osino Receives the Final Court Order Approving the Plan of Arrangement and Yintai Receives NDRC Approval

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VANCOUVER, British Columbia, May 15, 2024 (GLOBE NEWSWIRE) — Osino Resources Corp. (TSX:OSI.V) (NSX:OSN) (FSE: RSR1) (“Osino” or the “Pursue“) announced today that (i) it received a final order from the Supreme Court of British Columbia on May 2, 2024 approving the previously announced Statutory Arrangement Plan Corporate Companies Act (British Columbia), whereby Yintai Gold Co., Ltd (“Yintai“) will acquire all of Osino’s outstanding common shares for a cash consideration of $1.90 per Osino share (the “arrangement“), all as further described in Osino’s administrative authorization circular dated March 25, 2024 (the “Circular“); and (ii) Yintai has received approval from the National Development and Reform Commission of the People’s Republic of China.

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This means that two of the three required Chinese regulatory approvals have now been satisfied and the agreement therefore remains on track to be completed on or towards the end of the first half of 2024, subject to approvals from the regulatory authorities, namely the Namibian Competition Commission and the State Administration of foreign exchange of the People’s Republic of China.

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For a more detailed description of the agreement, readers should read the circular.

About Osino Resources Corp.

Osino is a Canadian gold exploration and development company focused on accelerating the development of our wholly owned Twin Hills Gold Project in central Namibia. Since Osino’s base discovery in August 2019, Osino has drilled more than 250,000 m and conducted a series of dedicated technical studies, culminating in the recently released Twin Hills Definitive Feasibility Study (“DFS”), effective June 12, 2023. The DFS describes a technically simple and economically robust open pit gold operation with a mine life of 13 years and average annual gold production of over 162,000 ounces per year.

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Osino has a commanding ground position of over 8,000 km2 lies within the prospective Damara sedimentary mineral belt of Namibia, largely near and along strike of the producing Navachab and Otjikoto gold mines. Osino is actively exploring a number of gold prospects and targets along the belt using a discovery-focused portfolio approach and targeting gold mineralization that fits the broad orogenic gold model.

Our projects are conveniently located in central and northern Namibia and are easily accessible from Namibia’s capital Windhoek. Due to its location, the Twin Hills project benefits significantly from Namibia’s well-developed infrastructure with paved highways, railways, electricity and water in the immediate vicinity. Namibia is mining-friendly and is considered one of the most politically and socially stable countries on the continent.

Qualified person

David Underwood, BSc. (Hons) is Vice President Exploration of Osino and has reviewed and approved the scientific and technical information in this press 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 as defined in NI 43-101 – Standards of Disclosure for Mineral Projects.

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Further details can be found on Osino’s website at https://osinoresources.com and Osino’s profile on SEDA+ at www.sedarplus.ca.

On behalf of the board
Haye Daun, President and CEO

Contact information
Osino Resources Corp.
Julia Becker
Investor Relations
+1 604 785 0850
[email protected]

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 laws. Forward-looking information includes, but is not limited to:
statements and information relating to statements regarding Yintai’s and Osino’s plans, intentions, beliefs and current expectations with respect to the Agreement; the timing of approvals and the conclusion of the agreement. 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”. “predicts,” “intends,” “anticipates,” or “does not anticipate,” or “believes,” or variations of such words and expressions, or states that certain actions, events or results “may,” “could,” “would”, “could” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are necessarily based on a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that could cause actual results, performance or achievements to differ materially may differ 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 meet expectations, estimates or intentions . 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 that could materially affect such forward-looking information are described in the risk factors contained in Osino’s most recent annual management discussion and analysis, which is available on Osino’s profile on SEDAR+ at www.sedarplus.com. Osino undertakes no obligation to update any forward-looking information, except in accordance with applicable securities laws.


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