DPM will acquire all of the issued and outstanding common shares of Osino for a consideration consisting of C$0.775 in cash per Osino share and 0.0801 of a DPM common share per Osino share.
Upon completion of the transaction, DPM will issue 13,766,364 shares to Osino shareholders, and existing Osino shareholders will own about 7% of the combined company.
DPM intends to advance all remaining engineering activities for Twins Hills to reach a construction decision by the third quarter of 2024.
In parallel, DPM will also be reviewing the construction timeline, which is currently targeting first production in the second half of 2026.
In connection with the transaction, DPM has agreed to purchase an aggregate of $10 million in common shares of Osino, in two equal tranches, at a price of C$1.13 per share pursuant to a concurrent private placement to provide Osino with funding for project activities.
Assuming the closing of both tranches of the private placement, DPM will own approximately 7% of the issued and outstanding common shares of Osino prior to the closing of the transaction.
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