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Osino Announces Strategic $5.5 Million Private Placement From Key Shareholders

Nachrichtenquelle: globenewswire
13.10.2021, 23:09  |  101   |   |   

VANCOUVER, British Columbia, Oct. 13, 2021 (GLOBE NEWSWIRE) -- Osino Resources Corp. (TSXV:OSI) (FSE:RSR1) (OTCQB:OSIIF) ("Osino” or “the Company”) is pleased to announce that it has arranged a non-brokered private placement offering led by current shareholder Pat DiCapo and the PowerOne Capital Group (the "Private Placement") and including Ross Beaty and management to raise gross proceeds of up to $5,500,000 through the sale of up to 5,000,000 units ("Units") of the Company at a price of $1.10 per Unit. Each Unit will consist of one common share (a "Share") and one-half of one common share purchase warrant, and each such whole warrant will entitle the holder to purchase one additional Share for a period of 22 months from closing of the Private Placement (the "Closing") at a price of $1.35 per Share.

Heye Daun, Osino’s President and CEO commented: “Pat DiCapo and PowerOne Capital have been strong supporters of Osino’s principals for over 10 years. Having been instrumental in the advancement and sale of our prior Namibian project, Otjikoto, to B2 Gold in 2011, and as a co-founding shareholder of Osino since 2016, we are delighted about this vote of confidence and together look forward to delivering the next chapter in Osino’s growth story.”

The Company intends to use the net proceeds of the Private Placement for exploration and development of the Company's Twin Hills gold project in central Namibia, comprising drilling, assaying, technical studies, surface right acquisition and for working capital and general corporate purposes. The Company may pay a finder's fee in connection with the Private Placement to eligible finders, in accordance with the policies of the TSX Venture Exchange and applicable securities laws, consisting of: (i) a cash commission of up to 6% of the gross proceeds of the Private Placement; and (ii) a number of common share purchase warrants (the "Finder's Warrants") equal to up to 6% of the number of Units sold pursuant to the Private Placement. Each Finder's Warrant will entitle the holder thereof to acquire one Share at a price of $1.10 per Share for a period of 22 months from the date of Closing.

The Private Placement is subject to approval of the TSX Venture Exchange, and all Units and securities of the Company issued pursuant to the Private Placement will be subject to a four month hold period from the Closing. The Private Placement will not result in the creation of a new control person of the Company.

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Osino Announces Strategic $5.5 Million Private Placement From Key Shareholders VANCOUVER, British Columbia, Oct. 13, 2021 (GLOBE NEWSWIRE) - Osino Resources Corp. (TSXV:OSI) (FSE:RSR1) (OTCQB:OSIIF) ("Osino” or “the Company”) is pleased to announce that it has arranged a non-brokered private placement offering led by current …

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