Romulus Resources Ltd. said June 26 that it completed its reverse takeover with Osino Resources Corp. and expects to resume trading as a tier 2 mining issuer on the TSX Venture Exchange under the OSI ticker on June 28.
The parties struck an amalgamation agreement in May under which Romulus consolidated its shares on a 1-for-10 basis and changed its name to Osino Resources.
Each Osino share was cancelled and exchanged on the basis of 1 share for every 5.4318 Osino shares held, and the company assumed the obligations of all of the outstanding convertible securities of Osino.
The company also appointed a new management team comprising Heye Daun as CEO, Alan Friedman as president and secretary, and Alan Rootenberg as CFO.
Osino is focused on the development of its Namibia-based Karibib property, which includes the Goldkuppe discovery. It also holds a portfolio of other gold exploration assets in the country.