Osino Resources Corp., a Canadian gold exploration and development company, reports that the regulatory process for its acquisition by Yintai Gold Co., Ltd is nearing its conclusion. The deal, which will see Yintai acquire all outstanding Osino shares for C$1.90 per share, has cleared three Chinese regulatory hurdles. Osino and Yintai are currently engaged in obtaining the final approval from the Namibian Competition Commission (NCC), which has completed its standard review and posed final clarifying questions to both companies. This assessment will be concluded at the next NCC Board meeting, expected by early August. Despite not securing the NCC approval by the earlier deadline of June 30, the companies have mutually agreed to extend this to July 30, 2024. The transaction is backed by a Definitive Feasibility Study on Osino’s Twin Hills Gold Project in Namibia, which outlines a 13-year mine life with annual production exceeding 162,000 ounces of gold. Management at Osino remains optimistic about meeting the final approval within the statutory timeframe.

Mining, Finance,Canada, Namibia, China

https://www.globenewswire.com/news-release/2024/06/20/2901767/0/en/Osino-Provides-Update-on-Yintai-Transaction.html