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Osino Resources rakes in C$10M equity financing to advance Namibia exploration

The overnight marketed offering consists of 12.8 million units at a price of C$0.78

Moneybags changing hands
Should Osino’s share price close at C$1.09 for five consecutives at any point within 9 months of the offering, the company can move up the warrants’ expiry date

Osino Resources Corp (CVE:OSI) (OTCMKTS:OSIIF) has reached a C$10 million equity financing agreement in order to fund its exploration projects in Namibia. 

The overnight marketed offering consists of 12.8 million units — each of which contains one common share and one half of a share purchase warrant — at a price of C$0.78 per unit. 

A full warrant allows its holder to acquire a common share at a price of C$1.05 per share up to 24 months after the offering closes, which the company expects to occur on January 30.

READ: Osino Resources extends gold strike at Twin Hills Central discovery by 50%

The Vancouver-based company has also granted its syndicate of underwriters the option to purchase up to an additional 15% of units. 

Should Osino’s share price close at C$1.09 for five consecutives at any point within 9 months of the offering, the company can move up the warrants’ expiry date to 30 days from that point.

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

Quick facts: Osino Resources

Price: 1.53 CAD

TSX-V:OSI
Market: TSX-V
Market Cap: $155.28 m
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