Osino Resources Appoints New Chief Financial Officer
VANCOUVER, March 05, 2021 - Osino Resources Corp. (TSXV:OSI) (FSE:RSR1) (OTCQB:OSIIF) ("Osino" or "the Company") is pleased to provide the following corporate updates.
New CFO Appointment
The Company is pleased to announce the promotion and appointment of Tony da Silva as the Company's new Chief Financial Officer. He is a qualified CA(SA) and has 20 years of audit and finance experience, having previously served as the Finance Director of Osino's operating subsidiaries since 2017.
After graduating from the University of Natal he completed his articles with Nexia in Cape Town, South Africa and stayed on as an Audit Manager after qualifying as a chartered accountant. In 2008 Tony joined Blue Alpha Investment Management as an equity analyst, later becoming a portfolio manager managing both local South African and offshore investment funds. In 2017 Tony joined Osino and has since been the Financial Director of Osino's operating subsidiaries in Namibia, whilst assisting the former CFO with Osino's corporate and financial reporting responsibilities.
The Company would like to thank the Company's former Chief Financial Officer, Alan Rootenberg, for his service and dedication to the Company and wishes him well with his future endeavors.
RSU and Stock Options Grant
The Company has granted of an aggregate of 136,800 restricted share units (each, an "RSU") to certain key executives of the Company under the Company's RSU Plan pursuant to the policies of the Exchange. Each RSU represents the right to receive, once vested, one common share in the capital of the Company for every RSU held, or the cash equivalent thereof based on the fair market value of the shares of the Company calculated in accordance with the terms of the RSU Plan.
Additionally, the Company has granted stock options under its Stock Option Plan to purchase an aggregate of 1,510,000 common shares of the Company at an exercise price of $1.25 per share for a five-year term. The stock options were granted to directors, officers and consultants of the Company pursuant to the Osino Stock Option Plan and the policies of the TSX Venture Exchange (the "Exchange") and vest over two years.
The granting of options and RSUs are subject to any necessary regulatory approvals and requirements of the Exchange.
The Company also announces that it has engaged Winning Media Ltd. ("Winning Media") to provide targeted digital media and corporate brand recognition initiatives. The Company has agreed to pay Winning Media US$80,000 in consideration for providing the marketing program. Winning Media will not receive any securities of the Company as compensation for their services.
About Osino Resources
Osino is a Canadian gold exploration and development company focused on fast-tracking the development of our Twin Hills gold project in north-central Namibia, whilst making new discoveries elsewhere along the belt.
Osino is advancing a range of prospects and targets across our 7,000km2 license position located within Namibia's prospective Damara sedimentary mineral belt, mostly in proximity to and along strike of the producing Navachab and Otjikoto Gold Mines. Osino is targeting gold mineralization that fits the broad orogenic gold model and we continue to evaluate new ground with a view to expanding our Namibian portfolio.
Our core projects are favorably located north and north-west of Namibia's capital city Windhoek. By virtue of their location, the projects benefit significantly from Namibia's well-established infrastructure with paved highways, railway, power and water in close proximity. Namibia is mining-friendly and lauded as one of the continent's most politically and socially stable jurisdictions.
Further details are available on the Company's website at https://osinoresources.com/
CONTACT INFORMATION
Osino Resources Corp.
Julia Becker: Investor Relations Manager
Tel: +1 (604) 785 0850
jbecker@osinoresources.com
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings, and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis which is available on the Company's profile on SEDAR at www.sedar.com. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
