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Helio (TSX-V:HRC) and Damara (TSX-V:DMR) Agree to Merge Namibian Interests into Osino Resources Corp.
Helio (TSX-V:HRC) and Damara (TSX-V:DMR) Agree to Merge Namibian Interests into Osino Reso...
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[{"type":"text","content":"\n\n\n\nHelio (TSX-V:HRC) and Damara (TSX-V:DMR) Agree to Merge Namibian Interests into Osino Resources Corp.\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-BOTTOM:black 0pt; TEXT-ALIGN: CENTER; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnsbtb0{\nBORDER-BOTTOM:black 0pt\n}\n\n\n\n\n\n\nHelio (TSX-V:HRC) and Damara (TSX-V:DMR) Agree to Merge Namibian Interests into Osino Resources Corp.\nCanada NewsWire\nVANCOUVER, Feb. 18, 2016\n\n\n\nTSX-V Trading Symbol: HRC\n\n\n\nVANCOUVER, Feb. 18, 2016 /CNW/ - Helio Resource Corp (TSX-V: HRC), (\"Helio\" or the \"Company\") is pleased to report that it has reached agreement with Damara Gold (TSX-V: DMR) ('Damara\") whereby the earn-in agreement between Damara and Helio will be cancelled, and Helio and Damara will transfer their respective interests in two Namibian exploration licences, through wholly owned subsidiaries, namely EPL 3738 (Wilhelmstal) and EPL 3739 (Otjimbojo) (together the \"Property\"), into Osino Resources Corp. (\"Osino\"), a privately-held British Columbia corporation in return for shares in Osino.\n\nBackground\n\nOn March 27, 2014 Helio announced an agreement with Damara (formerly Solomon Resources) whereby Damara had the option to earn up to a 60% interest in the Property. To date Damara has spent $300,000 on the projects and issued 500,000 common shares to Helio as part of the earn-in.\n\nUnder the terms of the arms-length agreement between Osino, Damara and the Company, Helio will transfer the shares of its wholly owned subsidiary holding the Property to Osino and Damara will forgo its rights under...