Securing Near-Term Production Growth in a Mining-Friendly Jurisdiction with Exploration Upside
TORONTO, Dec. 18, 2023 (GLOBE NEWSWIRE) -- Dundee Precious Metals Inc. (TSX:DPM)(“DPM”)and Osino Resources Corp. (“Osino”) (TSXV: OSI)(FSE: RSR1) (OTCQX: OSIIF)are pleased to announce that they have entered into a definitive agreement (the “Arrangement Agreement”) whereby DPM will acquire all of the issued and outstanding common shares of Osino pursuant to a plan of arrangement (the “Transaction”). The Transaction adds Osino’s high-quality, long-life Twin Hills open pit gold project as well as an extensive exploration portfolio in Namibia to DPM’s existing portfolio of assets.

As a result of the Transaction, DPM will acquire a 100% interest1 in Osino’s advanced stage, multi-million ounce Twin Hills gold project (“Twin Hills”) located in Namibia, a mining-friendly jurisdiction where DPM has successfully operated since 2010. A June 2023 feasibility study (“FS”) completed by Osino outlined an open-pit project with a 13-year mine life and average annual production of 175,000 ounces of gold over the first five years, with first production targeted in the second half of 2026.2

Pursuant to the terms of the Arrangement Agreement, DPM will acquire all of the issued and outstanding common shares of Osino (“Osino Shares”) for a consideration consisting of C$0.775 in cash per Osino Share and 0.0801 of a DPM common share per Osino Share (the “Consideration”). The Consideration implies a value of C$1.553 per Osino Share and a total equity value of C$287 million on a fully-diluted in-the-money basis. This Consideration represents a premium of 37.2% and 44.3% based on the closing price and 30-day volume weighted average price (“VWAP”) of Osino Shares as of December 15, 2023, on the TSX Venture Exchange, respectively. see & read more on
https://www.dundeeprecious.com/English/Corporate-News/press-release-details/2023/Dundee-Precious-Metals-Announces-Acquisition-of-Osino/default.aspx