DeHeng Assisted Shanjin International Gold Co., Ltd. in Acquiring Osino Resources Corp.

2024-09-01

On August 29, 2024, Shanjin International Gold Co., Ltd. (formerly Yintai Gold Co., Ltd.) completed the equity transfer for its acquisition of Osino Resources Corp. (“Osino”), securing 100% ownership of the latter. Following this, Shanjin International will apply for the delisting of Osino’s shares to finalize its privatization. The acquisition was executed through Shanjin International’s wholly-owned subsidiary, Hainan Shengwei Trading Co., Ltd., established in Canada, which purchased all issued and outstanding common shares and dilutable shares of Osino at a cash price of CAD 1.90 per share, amounting to a total transaction value of approximately CAD 368 million. Osino, the target of this acquisition, holds extensive mining development and exploration projects in Namibia, boasting significant resource potential and promising growth prospects. Through this acquisition, Shanjin International has expanded its mineral resource reserves (adding approximately 127.2 tons of gold resources), increased its asset scale, and enhanced its future profitability.  

As the legal counsel to Shanjin International in this transaction, the DeHeng team was led by partner Chen Wei, with primary support from partners She Wei and Yan Min, and lawyers Qiao Fei, Feng Yiwen, Liu Xiaotong, Huang Tianhuan, and Kong Dayang. Serving as the lead legal team, they collaborated with legal teams in Canada, Namibia, and Mauritius to provide comprehensive, professional, and efficient legal services for the transaction. DeHeng’s professionalism and dedication were highly commended by the client.