Staff Reporter
WINDHOEK, ct. 13 — Osino Resources Corp. is pleased to announce the successful completion of a bookbuild, which raised CAD$2,770,745. The offering comprised common shares of the Company (“Common Shares”) priced at CAD$1.00 per Common Share, with the potential to generate gross proceeds of up to US$3,000,000.
This bookbuild was strategically directed towards formerly disadvantaged Namibian individual shareholders, with the generated funds earmarked for the exploration and development of the Company’s mineral properties in Namibia, in addition to funding working capital and addressing general corporate needs.
The successful conclusion of this bookbuild signifies a pivotal moment for Osino, underscoring the Company’s ability to tap into the Namibian capital markets as an auxiliary source of funding for the ongoing development of the Twin Hills Gold Project. This accomplishment further underscores Osino’s commitment to its host nation and reciprocates the support extended by Namibia towards the Company.
The bookbuild was skillfully facilitated by Cirrus Capital (Pty) Ltd. (“Cirrus Capital”), which served as the financial advisor to the Company in Namibia. Heye Daun, Osino’s Co-Founder, President, and CEO, remarked:
“We are very pleased to confirm our first bookbuild in Namibia since listing Osino’s shares on the Namibian Stock Exchange (NSX: OSN) in August of this year. This financing is a purposeful and strategic capital raise that will increase Osino’s Namibian shareholder base as required as a condition of Osino’s granted Mining License. This bookbuild was aimed primarily at formerly disadvantaged Namibian individual shareholders, and we continue to engage with Namibian pension funds with the aim of completing a follow-on financing to achieve a Namibian ownership threshold well above the required 5% under our issued mining license. The completion of this bookbuild demonstrates Osino’s access to the Namibian capital markets as an additional source of capital for project development at the Twin Hills Gold Project.”
Rowland Brown, Co-Founder at Cirrus Capital, added:
“We are proud to have successfully completed Osino’s inaugural book build on the NSX. The financing received strong support from Namibian retail and institutional investors. We view Osino’s listing and bookbuild as a significant milestone for the Company, the Namibian Stock Exchange, and our host nation, Namibia.”
The bookbuild signifies a significant and positive step forward for Osino and its shareholders. It empowers the Company to secure the essential capital for advancing the Twin Hills Gold Project, a potential major gold mine in Namibia.
