China’s Yintai Gold to Acquire Canada’s Osino in $272 Million Deal

Credit: Reuters

China-based Yintai Gold announced its acquisition of Canadian gold exploration firm Osino Resources in an all-cash deal worth C$368 million ($272.53 million).

This deal supersedes Osino's previous agreement with Canadian gold miner Dundee Precious Metals, with Yintai paying a $10 million termination fee. Osino CEO Heye Daun expressed satisfaction with the premium offered by Yintai, stating it is a superior proposal for shareholders. The acquisition will facilitate the development of Osino's Twin Hills Gold Project in central Namibia, with each Osino common share valued at C$1.90.

The Osino board's Special Committee has endorsed the deal and recommended it to shareholders.