Partnerships in entertainment, infrastructure, tech sectors also in deals roundup
Stikeman Elliott and McCarthy Tétrault are serving as legal advisors in the $368 million sale of Vancouver-based Osino Resources to China’s Yintai Gold. Also in this week’s deals roundup are four partnership announcements in the entertainment, infrastructure, and technology sectors.
Osino Resources Corp., a Vancouver-based gold exploration and development company, and Chinese mining firm Yintai Gold have entered into a binding arrangement agreement in which Yintai will acquire Osino for $368 million.
As part of the deal, Yintai will also provide an immediate cash infusion of $10 million to Osino to support its operations and working capital. It includes the termination fee to cancel Osino’s previous $287-million agreement with Dundee Precious Metals, which was disclosed in December 2023.
Stikeman Elliott LLP and King & Wood Mallesons are serving as Osino’s legal counsel. BMO Capital Markets and Treadstone Resource Partners are acting as financial advisors to Osino and its Board of Directors and Eight Capital is acting as financial advisor to the special committee of the Board.
McCarthy Tétrault LLP and DeHeng Law Offices are serving as Yintai’s legal counsel, while Canaccord Genuity is acting as financial advisor.
Osino owns the advanced-stage, multi-million-ounce Twin Hills open-pit gold project in Namibia along with an extensive exploration portfolio in the African country.
“Whilst we were appreciative of the previous offer from DPM, the all-cash offer from Yintai represents a significant premium to the DPM offer price, thus is clearly a superior proposal, and is an excellent outcome for Osino’s shareholders,” said Osino President and CEO Heye Daun. “Yintai is experienced, well-financed, and has a highly credible track record of gold mining in China, with the technical skills and financial resources to progress the project through construction and into production.”
“Twin Hills represents a unique opportunity to add a high-quality gold development asset to our portfolio in a stable and mining-friendly jurisdiction,” said Yintai President Xingong Ou. “The project provides the foundation for our future production profile with production targeted for 2026, as well as significant exploration upside. We are excited to leverage the excellent work done by the Osino team in discovering and progressing Twin Hills to this point and we look forward to working with the existing Osino team to grow their Namibian activities and to implement the construction of the project. We are impressed with the responsible mining approach that the Osino team has built, and we intend to continue and to grow that approach.”
The deal is expected to close in the first half of 2024.
Spain’s Telefónica Movistar announced during the Mobile World Congress (MWC) in Barcelona on February 28, 2024, that it will continue to sponsor the Movistar KOI eSports team for three more years to the end of 2026.
Formed through a partnership with OverActive Media Corp., a Toronto-based eSports and entertainment company, and KOI, a club led by Ibai Llanos and Gerard Piqué, Movistar KOI represents Movistar’s largest eSports project to date. The multimillion-dollar, multi-year agreement also represents the largest financial partnership in OverActive’s history.
“We are excited about the opportunities these acquisitions unlock,” said OverActive Media CEO Adam Adamou. “Today's announcement is a prime example of a long-time Movistar Riders partner benefiting from the value that OverActive and KOI bring to the table. This is the biggest long-term partnership agreement in our history. It is a proud day for everyone involved. We are honoured by Telefónica's confidence in our business.”
Quebec-based BECTROL and France-based IES Synergy partnered in a deal that marks a significant advancement in North America’s electric vehicle (EV) fast-charging technology sector. This alliance aims to enhance the region’s EV infrastructure through the integration and commercialization of IES Synergy’s KEYWATT® chargers, engineered specifically for North American standards.
As a result of the partnership, BECTROL is set to become Canada’s second fast charging station manufacturer, and first in the 120-200 KW range.
Kathairos Solutions, an Alberta-based cleantech company, has announced a strategic partnership with Doig River First Nation (DRFN) and its economic arm, Úújǫ Developments LP, aimed at addressing methane emissions and set to pioneer sustainable environmental practices while fostering economic growth and cultural preservation within DRFN territory.
Working in methane elimination from pneumatics, Kathairos has more than 1,000 systems in operation across North America and more than 40 major oil and gas producer partners.
Kathairos CEO Dick Brown said, “We are honoured to welcome Doig River First Nation as partners as we expedite our expansion across North America. Together, we are establishing a new benchmark in environmental responsibility, highlighting the critical urgency in our collective endeavor to address the industry's methane challenges.”
“Through our partnership with Kathairos, we are setting a new standard for how technology, culture, and environmental stewardship can coexist and reinforce one another,” said Doig River First Nation Chief Trevor Makadahay. “Our focus on diversification, environmental stewardship, and maintaining DRFN's culture and rights aligns perfectly with Kathairos' mission to provide sustainable solutions for methane emission reduction.”
“Our shared vision with Kathairos is one of progress, respect for our land, and the prosperity of our people,” said Úújǫ Business Development VP Wayne Rothlisberger. “This partnership exemplifies our mantra, Yideh dzęɁ Waghaa, 'For the future', as we work together to create a sustainable legacy that honours our traditions and embraces innovation.”
CardiAI, an Alberta-based biotechnology company specializing in cutting-edge diagnostic solutions, announced a partnership with Carleton University's Faculty of Engineering and Design, marking a significant milestone in advancing medical diagnostics through the implementation of Electrolyte Gated-FET (EG-FET) biosensor technology.
The partnership aims to harness the potential of EG-FET biosensors for the detection of critical biomarkers in saliva and whole blood, which will not only revolutionize point-of-care diagnostics, but also opens several possibilities to apply the technology to a wider range of health conditions.
“We are thrilled to embark on this transformative journey with Carleton University,” said Dr. Anmol S. Kapoor, Cardiologist and CEO of CardiAI. “The marriage of CardiAI's expertise in biotechnology and Carleton's prowess in electronics engineering creates a synergy that holds immense promise for the future of medical diagnostics. Together, we are committed to advancing technology that not only addresses current healthcare challenges but also opens new doors for innovation and improved patient outcomes.”
“This collaboration exemplifies the power of interdisciplinary partnerships in driving scientific progress,” said Dr. Ravi Prakash, Associate Professor in Carleton's Department of Electronics and head of Carleton's Organic Sensors and Devices Laboratory. “Our department is excited to contribute to the development of cutting-edge biosensor technology that has the potential to redefine point-of-care diagnostics. By combining our research strengths, we aim to make a lasting impact on healthcare accessibility and usher in a new era of medical innovation.”
