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.

The deal is expected to close in the first half of 2024.