Canadian Gold Exploration Firm to be Acquired in an All Cash Deal

SEATTLE (Scrap Monster): Chinese Yintai Gold announced that it has entered into a binding arrangement agreement to acquire Osino Resources- the leading Canadian gold exploration firm in an all-cash C$368 million deal.

Prior to entering into this agreement, Osino Resources has terminated its earlier arrangement agreement dated 17^th December, 2023 with Dundee Precious Metals, Inc. (DPM) in accordance with its terms and conditions. Yintai will pay a $10 million termination fee for the deal, the statement issued by the company said. The all-cash offer from Yintai represents a significant premium to the DPM offer price.

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Further to closing of the Yintai deal, Osino’s portfolio will comprise of only the Namibian gold related assets, mainly the Twin Hills Gold Project in central Namibia and the Ondundu and Eureka exploration projects.

Heye Daun, President and CEO of Osino highlighted that Yintai is experienced and well-financed and that the company has a highly credible track record of gold mining in China. Osino looks forward to work with Yintai to fast-track the development of the project and close this transaction, he added.

Xingong Ou, President of Yintai noted that Twin Hills is a high-quality gold development asset, the addition of which to its portfolio offers a great opportunity.