Canadian and Chinese authorities have approved the acquisition of Osino Resources by Yintai Gold Company.
Osino Resources Corp. announced in February 2024 that Yintai Gold Company had to acquire all its shares for approximately C$368 million.
Osino Resources shareholders approved the deal on April 29, 2024.
Osino Resources announced that the Supreme Court of British Columbia gave the final order on May 2, 2024.
The National Development and Reform Commission of the People’s Republic of China also approved the Yintai Gold Company’s acquisition of Osino Resources.
Osino Resources has made significant progress, announcing on Thursday that two of the three necessary Chinese regulatory approvals have been successfully fulfilled, indicating a smooth advancement of the acquisition process.
According to Osino Resources, the arrangement remains on track to close by the end of H1 2024, subject to approvals by the Namibian Competition Commission and the State Administration of Foreign Exchange of the People’s Republic of China.
