Osino acquires US$9 million to fast-track its gold project near Windhoek
Canadian gold explorer, Osino Resources has received over U$9 million from the exercise of 8,941,047 previously issued warrants to fast-track the development of its flagship Twin Hills Gold Project near Windhoek.
The funds will also progress the company’s other local exploration and project development initiatives as well as for general working capital purposes.
The warrants were issued in conjunction with a private placement financing completed in January 2020. The exercise price of the warrants was $1.05 per warrant and was set to expire on January 30, 2022.
“It’s been a challenging equity market and notwithstanding the stock trading around warrant exercise price, an overwhelming majority of this series of warrants were exercised,” said Heye Daun, Osino’s President and CEO.