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China’s Yintai Gold said Sunday it agreed to acquire Osino Resources (OTCQX:OSIIF) for C$1.90/share in cash, valuing the Canadian gold miner at C$368M (~US$272M).
Osino (OTCQX:OSIIF) said it will end its C$287M takeover agreement with Dundee Precious Metals (OTCPK:DPMLF), which was announced in December, and Yintai will pay a $10M termination fee.
Osino’s portfolio consists of gold-related assets located in Namibia, primarily the Twin Hills gold project in central Namibia as well as exploration projects Ondundu and Eureka.
Yintai also will provide Osino (OTCQX:OSIIF) with a $10M loan to enable the fast-tracked development of the Twin Hills project and Osino’s other liquidity needs.
