Osino Resources Corp. (TSXV:OSI) (FSE:RSR1) (OTCQX:OSIIF) agreed to acquire Razorback Gold Mining Company (Proprietary) Limited from B2Gold Corp for $16.7 million on December 31, 2021. Aggregate purchase price of $15.2 million including a combination of cash, deferred cash and shares.

Pursuant to the Acquisition Agreement, Osino will pay the Purchase Price to B2Gold as follows $3.85 million was paid into escrow, which will be released and paid to B2Gold on closing of the Purchase (the "Closing") or will be released and returned to Osino if the Purchase has not closed by June 30, 2022 and $5 million in common shares of Osino will be issued to B2Gold on Closing having a price equal to the weighted average price for the 20 days immediately prior to Closing and $3.85 million will be paid to B2Gold on the first business day after the six-month anniversary of the Closing Date and $2.5 million will be paid to B2Gold on the earlier of completion of a feasibility study including the License area and first production or sale of ores, minerals or mineral products from the License area, payable at Osino's option in cash or common shares of Osino having a price equal to the weighted average price for the 20 days immediately prior to the date of issuance thereof. No finder's fees or commissions are being paid in connection with the Purchase. The Agreement will terminate on June 30, 2022 if the Purchase has not closed by then.

The Acquisition Agreement is subject to Namibian regulatory approvals and certain other customary closing conditions. Osino Resources Corp. agreed to amend the Acquisition Agreement to allow for payment of a significant portion and up to all of the Purchase by issuance of Company common shares to B2Gold instead of cash for the acquisition of the Ondundu gold project on June 29, 2022.