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Osino Resources Corp
Symbol OSI
Shares Issued 67,368,495
Close 2020-01-10 C$ 0.83
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Osino files preliminary prospectus for unit financing

2020-01-13 16:53 ET - News Release

Mr. Heye Daun reports

OSINO RESOURCES ANNOUNCES OVERNIGHT MARKETED EQUITY FINANCING

Osino Resources Corp. has filed a preliminary short-form prospectus in connection with an overnight marketed offering of units from the treasury of the company, at a price per unit to be determined in the context of the market. The offering will be conducted through a syndicate of agents led by Cormark Securities Inc.

Each unit will consist of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant shall entitle the holder to acquire an additional common share at a price equal to 35-per-cent premium to the offering price for a period of 24 months following the closing of the offering. Furthermore, in the event that the company's common share price closes at 40 per cent above the offering price following nine months of the closing of the offering, for five consecutive trading days, the company may, within 15 days of the occurrence of such event, deliver a notice to the holders of warrants accelerating the expiry date of the warrants to the date that is 30 days following such notice and any unexercised warrants after such period shall automatically expire.

The size and pricing of the offering will be determined in the context of the market at the time of entering into a definitive underwriting agreement between the company and the agents. The company has granted the agents an option (overallotment option) to purchase up to an additional 15 per cent of the units of the offering on the same terms exercisable at any time up to 30 days following the closing of the offering, for market stabilization purposes and to cover overallotments, if any.

Closing of the offering is expected to occur on or about Jan. 30, 2020, and is subject to certain conditions, including regulatory approval, including that of the TSX Venture Exchange.

The net proceeds of the offering shall be used to finance expenditures at the company's exploration projects in Namibia and for general working capital purposes.

The units to be issued under the offering will be offered by way of a short-form prospectus in each of each of the provinces of Canada, other than Quebec, and may be offered in the United States on a private placement basis, pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws and certain other jurisdictions outside of Canada and the United States.

About Osino Resources Corp.

Osino is a Canadian gold exploration company, focused on the acquisition and development of gold projects in Namibia. Its 23 exclusive prospecting licences are located within Namibia's prospective Damara mineral belt, mostly in proximity to and along strike of the producing Navachab and Otjikoto gold mines. Osino is targeting gold mineralization that fits the broad orogenic gold model. The company is actively advancing a range of gold discoveries, prospects and targets across its 6,577-square-kilometre ground position by utilizing a portfolio approach geared toward discovery.

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