Parties
Company
Dundee Precious Metals Inc.
Company
Osino Resources Corp.
On December 18, 2023, Dundee Precious Metals Inc. (DPM) announced the acquisition of all outstanding shares of Osino Resources Corp., adding Osino's Twin Hills gold project and exploration portfolio in Namibia to its assets. The transaction was valued at C$287 million. Under the terms, DPM paid C$0.775 in cash and 0.0801 DPM share per Osino share, implying a value of C$1.553 per Osino Share. This represented a premium based on Osino's share prices as of December 15, 2023. Post-transaction, Osino shareholders owned approximately 7% of DPM.
The Twin Hills project, with 2.15 million ounces of Proven and Probable Reserves, bolstered DPM's position as an intermediate gold producer and expanded its reserve base by 43%. The transaction, expected to close in H1 2024, required Osino shareholder and regulatory approvals.
CIBC Capital Markets and Cassels Brock & Blackwell LLP advised DPM, while BMO Capital Markets, Treadstone Resource Partners, Eight Capital, and Stikeman Elliott LLP advised Osino.
Deal Type
Merger & AcquisitionIndustry
MiningTransaction
$ 287,000,000Deal Status
ActiveClosing Date