Osino Resources has raised more than N$38m (C$2,770,745) from selling 2,770,745 ordinary shares for N$13,80 (C$1,00) each.
The Canadian gold exploration and development company developing the Twin Hills Gold Project in the Erongo region offered the shares through the Namibia Stock Exchange.
Osino wants to use the net proceeds for exploring and developing the Twin Hills Gold Project and for working capital and general corporate purposes.
Osino’s Namibian financial advisor, Cirrus Capital, received about N$385,358 (US$20,282).
The shares were offered to comply with the mining permit conditions.
In connection with the offering, Osino filed a prospectus supplement dated 16 October 2023 to its short form base shelf prospectus dated 9 May 2023 with the securities commission in British Columbia and entered into an agency agreement with Echelon Wealth Partners Inc., under which Echelon received a corporate finance fee of US$100,000.
