- Osino has successfully dual-listed on the Namibian Stock Exchange.
- TSX Venture Exchange remains primary listing.
- Namibian listing facilitates trading of shares by Namibians and Namibian funds, while also accessing empowerment opportunities and local capital market participation.
VANCOUVER, British Columbia, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Osino Resources Corp. (TSXV:OSI)(NSX:OSN)(FSE:RSR1) (OTCQX:OSIIF) ("Osino" or "the Company") is pleased to announce that the Company has successfully dual-listed on the Namibian Stock Exchange ("NSX") under the symbol "OSN". There will be no change to Osino's listing on the TSX Venture Exchange (TSXV) which will remain the primary listing for Osino's common shares.
Heye Daun, Osino's Co-Founder and CEO, and Namibian-born mining engineer, commented: "The Twin Hills Gold Project is expected to provide significant economic and social benefits for Namibians. Listing on the NSX is another opportunity for Osino to engage with Namibian stakeholders and provides access to the Namibian capital markets for project development at Twin Hills."
The announcement of the successful listing falls during a regional roadshow introducing investors to Osino's exploration and development activities in Namibia. Osino commenced operations in Namibia in 2016 and listed on the TSX Venture Exchange in 2018. The Company's flagship Twin Hills Gold Project (the "Project") is comprised of 11 exclusive prospecting licenses ("EPLs") granted by the government of Namibia, which are held over a combined area of 153,206 ha in and around the regional towns and settlements of Usakos, Karibib, Omaruru, and Wilhelmstal in the Erongo Region of Namibia.
Osino was founded by Namibians and the company is led by many of the individuals who were instrumental in the development of the Otjikoto mine in Namibia prior to its acquisition in 2011 by B2Gold Corp. Osino's Twin Hills Gold Project, which is anticipated to become the next gold mine in Namibia, is expected to be larger than the Otjikoto mine. The Project has been substantially de-risked with the recent release of a Definitive Feasibility Study in July 2023.
Cirrus Capital (Namibia) advised on the NSX listing and anticipates increased exposure and awareness for Osino in Namibian capital markets. Rowland Brown, Co-Founder at Cirrus Capital commented: "This is the first real opportunity for Namibian investors to purchase NSX-listed shares in one of Namibia's largest mines at a relatively early, but highly de-risked stage. This rare opportunity should be converted into a precedent for future mine development in the country, linking Namibians to ownership of local extractive industry opportunities."
About Osino Resources
Osino is a Canadian gold exploration and development company focused on the fast-tracked development of our wholly owned, Twin Hills Gold Project in central Namibia. Since its grassroots discovery by Osino in August 2019 the Company has completed more than 225,000m of drilling and has completed a suite of specialist technical studies culminating in the recently published Twin Hills Definitive Feasibility Study ("DFS") dated effective June 12, 2023. The DFS describes a technically simple and economically robust open-pit gold operation with a 13-year mine life and average annual gold production of over 169koz per annum.
Osino has a commanding ground position of approximately 8,000km2 located within Namibia's prospective Damara sedimentary mineral belt, mostly in proximity to and along strike of the producing Navachab and Otjikoto Gold Mines. The Company is actively exploring a range of gold prospects and targets along the belt by utilizing a portfolio approach geared towards discovery, targeting gold mineralization that fits the broad orogenic gold model.
Our core projects are favourably located north and north-west of Namibia's capital city Windhoek. By virtue of their location, the projects benefit significantly from Namibia's well-established infrastructure with paved highways, railway, power and water in close proximity. Namibia is mining-friendly and lauded as one of the continent's most politically and socially stable jurisdictions. Osino continues to evaluate new ground with a view to expanding our Namibian portfolio.
Further details are available on the Company's website at https://osinoresources.com/ and under the Company's profile on SEDAR+ at www.sedarplus.ca.
Further details are available on the Company's website at https://osinoresources.com/
On Behalf of The Board of Directors
Heye Daun, President & CEO
CONTACT INFORMATION
Osino Resources Corp.
Yaron Conforti, Corporate Development
yconforti@osinoresources.com
+1-604-687-2038
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's future plans or prospects of the Company, including prospects for economic recoverability of mineral resources. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis which is available on the Company's profile on SEDAR+ at www.sedarplus.ca. The Company does not undertake to update any forward- looking information, except in accordance with applicable securities laws.
