Yintai to Acquire Osino in an All-Cash Transaction for C$368 million
VANCOUVER, British Columbia, Feb. 25, 2024 (GLOBE NEWSWIRE) -- Yintai Gold Co., Ltd (000975.CN) ("Yintai") and Osino Resources Corp. (TSX:OSI.V) (NSX:OSN) (FSE:RSR1) ("Osino") are pleased to announce that they have entered into a binding arrangement agreement (the "Yintai Arrangement Agreement"), pursuant to which Yintai will acquire all of the outstanding common shares of Osino (each, an "Osino Common Share") by way of a plan of arrangement (the "Yintai Arrangement"), for cash consideration of C$1.90 for each Osino Common Share, valuing Osino at approximately C$368 million.
- VANCOUVER, British Columbia, Feb. 25, 2024 (GLOBE NEWSWIRE) -- Yintai Gold Co., Ltd (000975.CN) ("Yintai") and Osino Resources Corp. (TSX:OSI.V) (NSX:OSN) (FSE:RSR1) ("Osino") are pleased to announce that they have entered into a binding arrangement agreement (the "Yintai Arrangement Agreement"), pursuant to which Yintai will acquire all of the outstanding common shares of Osino (each, an "Osino Common Share") by way of a plan of arrangement (the "Yintai Arrangement"), for cash consideration of C$1.90 for each Osino Common Share, valuing Osino at approximately C$368 million.
- Accordingly, the Osino Board and the Special Committee recommend that Osino shareholders vote IN FAVOUR of the Transaction.
- The Yintai Arrangement Agreement also provides for a termination fee of US$9.55 million, payable by Osino to Yintai in certain specified circumstances along with the repayment or conversion of the loan.
- The Yintai Arrangement Agreement also includes a reverse termination fee in the amount of US$9.55 million, payable by Yintai to Osino in certain other specified circumstances.