Shanjin International Gold Co., Ltd. (formerly known as Yintai Gold Co., Ltd.) plans to delist Osino Resources Corp from the TSX Venture Exchange after its successful acquisition of the gold exploration company.
“Shanjin intends to cause Osino to delist the Osino Shares from the TSX Venture Exchange, 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,” Osino announced on Thursday.
Osino is also expected to delist from the Namibian Stock Exchange, where it was listed in August 2023.
This comes as Osino Resources received a final conditional approval from the Namibian Competition Commission (NaCC) for its acquisition this month.
Under the arrangement, Shanjin will acquire all outstanding shares of Osino for N$13.04 (C$1.90) per share.
Shanjin has committed to an immediate cash infusion of N$193 million (US$10 million) for Osino’s operations, along with full reimbursement of the termination fee paid to Dundee Precious Metals.
Osino Precious Metals Corp is based in Canada and focuses on gold exploration and development, primarily centered on its wholly-owned Twin Hills Gold Project in Central Namibia.
