VANCOUVER, British Columbia, Jan. 30, 2020 (GLOBE NEWSWIRE) -- Ross J. Beaty, of 1550 – 625 Howe Street, Vancouver, British Columbia, V6C 2T6, today announced that on January 30, 2020, he indirectly acquired ownership of 128,300 units (“Units”) of Osino Resources Corp. (“Osino”), a company with a head office at 1140 West Pender Street, Vancouver, British Columbia, V6E 4G1, at a purchase price of CDN$0.78 per Unit for an aggregate purchase price of CDN$100,074. Each Unit consists of one common share of Osino (an “Osino Share”) and one-half of one Osino Share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one Osino Share at an exercise price of CDN$1.05 for a period of two years from the date of issue. Mr. Beaty acquired ownership through a private placement transaction (the “Private Placement”) previously announced by Osino on January 13, 2020, January 14, 2020, and January 16, 2020.
The Osino Shares are owned by Kestrel Holdings Ltd., a corporation controlled by Mr. Beaty.
Prior to the closing of the Private Placement, Mr. Beaty owned, directly or indirectly, or exercised control or direction over 12,383,248 Osino Shares and 571,429 Warrants. The 12,383,248 Osino Shares represented approximately 18.38% of the total number of issued and outstanding Osino Shares prior to the Private Placement. If all of the Warrants were exercised, Mr. Beaty would have owned, directly or indirectly, or exercised control or direction over, approximately 19.07% of the total number of issued and outstanding Osino Shares on a partially diluted basis prior to the Private Placement.
After the completion of the Private Placement, Mr. Beaty now owns, directly or indirectly, or exercises control or direction over, 12,511,548 Osino Shares and 635,579 Warrants. The 12,511,548 Osino Shares represent approximately 14.66% of the total number of issued and outstanding Osino Shares, resulting in a 3.72% change to Mr. Beaty’s Osino Share holdings. If all of the Warrants were exercised, Mr. Beaty would own, directly or indirectly, or exercise control or direction over, approximately 15.30% of the total number of issued and outstanding Osino Shares, resulting in a 3.77% change to Mr. Beaty’s Osino Share holdings on a partially diluted basis after the completion of the Private Placement.
Mr. Beaty’s acquisition was made for investment purposes. In accordance with applicable securities laws, Mr. Beaty may, from time to time and at any time, acquire additional shares and/or other equity, debt or other securities or instruments (collectively, “Securities”) of Osino in the open market or otherwise, and reserves the right to dispose of any or all of his Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of Osino and other relevant factors.
Mr. Beaty is not currently a party to any agreement in respect of the acquisition, holding, disposition or voting of any securities of Osino.
Other than Kestrel Holdings Ltd., Mr. Beaty does not own or control any securities of Osino with, nor is Mr. Beaty a joint actor with, another entity.
For more information, or to obtain a copy of the subject early warning report, please contact:
Ross J. Beaty
1550 – 625 Howe Street
Vancouver, British Columbia
V6C 2T6
Telephone: (604) 806-3173
Facsimile: (604) 684-0147