Osino Announces Strategic $5.5 Million Private Placement From Key Shareholders

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VANCOUVER, British Columbia, Oct. 13, 2021 (GLOBE NEWSWIRE) — Osino Sources Corp. ( TSXV:OSI ) ( FSE:RSR1 ) ( OTCQB:OSIIF ) (“ Osino ” or “ the
Firm ”) is happy to announce that it has organized a non-brokered non-public placement providing led by present shareholder Pat DiCapo and the PowerOne Capital Group (the “ Non-public Placement “) and together with Ross Beaty and administration to boost gross proceeds of as much as $5,500,000 by way of the sale of as much as 5,000,000 models (“ Items “) of the Firm at a value of $1.10 per Unit. Every Unit will consist of 1 frequent share (a “ Share “) and one-half of 1 frequent share buy warrant, and every such entire warrant will entitle the holder to buy one further Share for a interval of twenty-two months from closing of the Non-public Placement (the “ Closing “) at a value of $1.35 per Share.

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Heye Daun, Osino’s President and CEO commented:
“Pat DiCapo and PowerOne C apital have been robust supporters of Osino’s principals for over 10 years. Having been instrumental within the development and sale of our prior Namibian venture, Otjikoto, to B2 Gold in 2011, and as a co- founding shareholder of Osino sin c e 2016, we’re delighted about this vote of confidence and collectively stay up for delivering the subsequent chapter in Osino’s development story.”

The Firm intends to make use of the online proceeds of the Non-public Placement for exploration and growth of the Firm’s Twin Hills gold venture in central Namibia, comprising drilling, assaying, technical research, floor proper acquisition and for working capital and common company functions. The Firm could pay a finder’s charge in reference to the Non-public Placement to eligible finders, in accordance with the insurance policies of the TSX Enterprise Change and relevant securities legal guidelines, consisting of: (i) a money fee of as much as 6% of the gross proceeds of the Non-public Placement; and (ii) plenty of frequent share buy warrants (the “ Finder’s Warrants “) equal to as much as 6% of the variety of Items bought pursuant to the Non-public Placement. Every Finder’s Warrant will entitle the holder thereof to amass one Share at a value of $1.10 per Share for a interval of twenty-two months from the date of Closing.

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The Non-public Placement is topic to approval of the TSX Enterprise Change, and all Items and securities of the Firm issued pursuant to the Non-public Placement shall be topic to a 4 month maintain interval from the Closing. The Non-public Placement won’t outcome within the creation of a brand new management individual of the Firm.

About Osino Sources

Osino is a Canadian gold exploration and growth firm targeted on the development of the Twin Hills gold venture in central Namibia. Twin Hills was found by Osino in 2019 and is at the moment within the development and de-risking section while being fast-tracked to manufacturing.

Osino additionally has a big floor place of roughly 6,700km ² positioned inside Namibia’s potential Damara sedimentary mineral belt, principally in proximity to and alongside strike of the manufacturing Navachab and Otjikoto Gold Mines. The Firm is actively advancing a spread of different gold prospects and targets alongside the belt by using a portfolio method geared in the direction of discovery, concentrating on gold mineralization that matches the broad orogenic gold mannequin.

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Our core initiatives are favorably positioned in central and northern Namibia inside straightforward driving distance from the capital metropolis Windhoek. By advantage of their location, the Initiatives profit considerably from Namibia’s well-established infrastructure with paved highways, railway, energy and water in shut proximity. Namibia is mining-friendly and lauded as one of many continent’s most politically and socially secure jurisdictions.

Osino continues to judge new floor with a view to increasing our Namibian portfolio.

Additional particulars can be found on the Firm’s web site at https://osinoresources.com/

CONTACT INFORMATION
Osino Sources Corp.
Julia Becker: Investor Relations Supervisor
Tel: +1 (604) 785 0850
jbecker@osinoresources.com

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Cautionary Assertion Relating to Ahead-Wanting Info

This press launch comprises “forward-looking info” throughout the that means of relevant Canadian securities laws. Ahead-looking info contains, with out limitation, statements relating to the usage of proceeds from the Firm’s lately accomplished financings, and the longer term plans or prospects of the Firm, together with prospects for financial recoverability of mineral sources. Usually, forward-looking info will be recognized by means of forward-looking terminology equivalent to “plans”, “expects” or “doesn’t count on”, “is anticipated”, “funds”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “doesn’t anticipate”, or “believes”, or variations of such phrases and phrases or state that sure actions, occasions or outcomes “could”, “may”, “would”, “would possibly” or “shall be taken”, “happen” or “be achieved”. Ahead-looking statements are essentially based mostly upon plenty of assumptions that, whereas thought-about affordable by administration, are inherently topic to enterprise, market and financial dangers, uncertainties and contingencies which will trigger precise outcomes, efficiency or achievements to be materially totally different from these expressed or implied by forward-looking statements. Though the Firm has tried to establish necessary components that might trigger precise outcomes to vary materially from these contained in forward-looking info, there could also be different components that trigger outcomes to not be as anticipated, estimated or supposed. There will be no assurance that such info will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such statements. Accordingly, readers shouldn’t place undue reliance on forward-looking info. Different components which may materially have an effect on such forward-looking info are described within the threat components within the Firm’s most up-to-date annual administration’s dialogue and evaluation which is offered on SEDAR at  www.sedar.com . The Firm doesn’t undertake to replace any forward-looking info, besides in accordance with relevant securities legal guidelines.

Neither the TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts duty for the adequacy or accuracy of this press launch.

Not for distribution to U.S. Newswire Companies or for dissemination in the US. Any failure to adjust to this restriction could represent a violation of U.S. securities legal guidelines.