- Osino Resources (OSI) has increased the size of its private placement for gross proceeds of up to $10,500,000.50
- Osino plans to issue up to an additional 4,545,455 units at a price of $1.10 per unit
- Each unit will consist of one common share and one-half of one common share purchase warrant
- Net proceeds will be used for exploration and development of the company’s Twin Hills gold project
- Osino is a Canadian gold exploration and development company
- Osino Resources Corp. (OSI) is up 5.93 per cent, trading at C$1.25 per share at 1 pm ET
Osino Resources (OSI) has increased the size of its private placement due to strong investor demand.
Osino now plans to issue up to an additional 4,545,455 units. The private placement will consist of up to a total of up to 9,454,455 units at a price of $1.10 per unit for gross proceeds of up to $10,500,000.50.
Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional share at a price of $1.35 for a period of 22 months.
Net proceeds will be used for the exploration and development of the company’s Twin Hills gold project in central Namibia and for working capital and general corporate purposes.
The company may pay a finder’s fee consisting of a cash commission of up to 6 per cent of the gross proceeds of the placement and a number of common share purchase warrants equal to up to 6 per cent of the number of units sold.
The offering is subject to approval of the TSXV. All units issued will be subject to a four-month hold period.
Osino is a Canadian gold exploration and development company focused on the advancement of the Twin Hills gold project in central Namibia.
Osino Resources Corp. (OSI) is up 5.93 per cent, trading at C$1.25 per share at 1 pm ET.
