The Namibia Competition Commission approved the transaction in which Shanjin (formerly Yintai) wants to acquire Osino Resources shares.
The commission’s approval was the only one outstanding in concluding the arrangement.
The closing of the arrangement will occur on or before August 29, 2024.
The payment of the consideration to Osino security holders following the closing of the arrangement will be processed by the customary procedures of Computershare Investor Services Inc., the depositary in connection with the arrangement.
Shanjin and Osino Resources Corp. announced in February 2024 that they had entered into a binding agreement under which Shanjin would acquire all of the outstanding common shares of Osino for approximately C$368 million.
At the close of the Shanjin arrangement, Osino’s portfolio will consist only of gold-related assets in Namibia, primarily the Twin Hills Gold Project in central Namibia and exploration projects in Ondundu and Eureka.
