PRESS RELEASE FOR EARLY WARNING REPORT REGARDING OSINO RESOURCES CORP.


VANCOUVER, BC, July 22, 2022 /CNW/ – Ross J. Beaty, of 1550 – 625 Howe Street, Vancouver, British Columbia, V6C 2T6, announces that, as a result of Osino Resources Corp. (“Osino“), a company with a head office at 1140 West Pender Street, Vancouver, British Columbia V6E 4G1, completing its acquisition from B2Gold Corp. (“B2Gold“) of the Ondundu gold exploration property in Namibia and issuing to B2Gold 11,630,628 common shares (“Osino Shares“) in the capital of Osino on July 20, 2022 (the “Issuance“), Mr. Beaty now owns, directly or indirectly, or exercises control or direction over, less than 10% of the issued and outstanding Osino Shares.

Mr. Beaty’s Osino Shares are owned by Kestrel Holdings Ltd., a corporation controlled by Mr. Beaty.

Prior to the Issuance, Ross J. Beaty owned, directly or indirectly, or exercised control or direction over 13,328,945 Osino Shares and 90,909 Osino Share purchase warrants (the “Warrants“). The 13,328,945 Osino Shares represented approximately 10.457% of the total number of issued and outstanding Osino Shares prior to the Issuance. If all of his Warrants were exercised, Mr. Beaty would have owned, directly or indirectly, or exercised control or direction over, approximately 10.521% of the total number of issued and outstanding Osino Shares on a partially diluted basis prior to the Issuance.

After the completion of the Issuance, Mr. Beaty now owns, directly or indirectly, or exercises control or direction over, 13,328,945 Osino Shares and 90,909 Warrants. The 13,328,945 Osino Shares represent approximately 9.582% of the total number of issued and outstanding Osino Shares, resulting in a 0.875% decrease to Mr. Beaty’s Osino Share holdings. If all of his Warrants were exercised, Mr. Beaty would own, directly or indirectly, or exercise control or direction over, approximately 9.642% of the total number of issued and outstanding Osino Shares, resulting in a 0.879% decrease to Mr. Beaty’s Osino Share holdings on a partially diluted basis after the completion of the Issuance. After completion of the Issuance, Mr. Beaty now owns, directly or indirectly, or exercises control or direction over, less than 10% of the issued and outstanding Osino Shares.

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 through 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.

SOURCE Osino Resources Corp.

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