Orosur Mining Inc.
Admission, issue of new common shares
and issue of warrants
London,
4th October 2024.
Orosur Mining Inc. ("Orosur"
or the "Company") (TSX-V/AIM:OMI) is pleased to
announce that further to the Company's announcement made on
30th September 2024, 30,035,971 new common shares of no
par value in the Company (the "New Common Shares") have been
admitted to trading on AIM today (the "Admission"), at a placing
price of £0.0278 (CAD$0.05).
Following the issue of the New Common Shares,
which will rank pari passu with the existing common shares of the
Company, the total number of common shares issued and outstanding
with voting rights in the Company will be 235,620,423.
The figure of 235,620,423 common shares may
therefore be used by shareholders as the denominator for the
calculation by which they may determine if they are required to
notify their interest in, or a change to their interest in, the
Company under the FCA's Disclosure Guidance and Transparency
Rules.
For further details in relation to the placing,
including the gross amount raised, and intended use of proceeds,
please see the Company's press release from 30th
September 2024.
Issuance of
Warrants
As set out in the Company's announcement on
30th September 2024, the Company has also issued
15,017,986 warrants, exercisable at a price of US$0.0494
(approximately 3.697p) with an expiry date of 4th
October 2026. The warrants, which are unlisted, will be issued
pursuant to a warrant indenture entered into by the Company under a
deed poll constituted under English law. Warrant holders will
receive certificates representing the warrants issued to them in
due course.
Broker´s
Fees
Turner Pope Investments (TPI) Ltd ("Turner
Pope" or "TPI"), the Company's joint broker, received a fee of six
(6) per cent. of the funds raised in the placing (£50,100), a
corporate finance fee of £30,000 which also covers its legal
expenses, and will receive a commission of six (6) per cent. of the
gross value received by the Company from the exercise of the
warrants described above, if any are exercised during their
two-year exercise period. TPI also received 3,003,597 broker
warrants equal in number to ten per cent. of the New Common Shares,
exercisable at the placing price at TPI's option at any time in the
five years following Admission.
For
further information, visit www.orosur.ca, follow on X @orosurm or
please contact:
Orosur Mining Inc
Louis Castro, Chairman,
Brad George, CEO
info@orosur.ca
Tel: +1 (778) 373-0100
SP
Angel Corporate Finance LLP - Nomad & Broker
Jeff Keating / Caroline
Rowe
Tel: +44 (0) 20 3 470
0470
Turner Pope Investments (TPI) Ltd - Joint
Broker
Andy Thacker/James Pope
Tel: +44 (0)20 3657 0050
Flagstaff Communications
Tim Thompson
Mark Edwards
Fergus Mellon
orosur@flagstaffcomms.com
Tel: +44 (0)207 129 1474
Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
About Orosur Mining Inc.
Orosur Mining Inc. (TSXV: OMI; AIM:
OMI) is a minerals explorer and developer currently operating in
Colombia, Argentina and Nigeria.
Forward Looking Statements
All statements, other than
statements of historical fact, contained in this news release
constitute "forward looking statements" within the meaning of
applicable securities laws, including but not limited to the "safe
harbour" provisions of the United States Private Securities
Litigation Reform Act of 1995 and are based on expectations
estimates and projections as of the date of this news
release.
Forward-looking statements include,
without limitation, completion of the Acquisition, approval of the
TSXV of the acquisition, Orosur becoming operator of the Anzá
Project, the expected focus on the Pepas prospect, the exploration
plans in Colombia and the funding of those plans, and other events
or conditions that may occur in the future. There can be no
assurance that such statements will prove to be accurate. Actual
results and future events could differ materially from those
anticipated in such forward-looking statements. Such statements are
subject to significant risks and uncertainties including, but not
limited to, obtaining conditional approval of the TSXV and meeting
other conditions to closing the Acquisition, timing of closing of
the Acquisition and those as described in Section "Risks Factors"
of the Company's MD&A for the year ended May 31, 2024. The
Company disclaims any intention or obligation to update or revise
any forward-looking statements whether as a result of new
information, future events and such forward-looking statements,
except to the extent required by applicable law. The Company's
continuance as a going concern is dependent upon its ability to
obtain adequate financing, and to reach a satisfactory closure of
the Creditor´s Agreement in Uruguay. These material uncertainties
may cast significant doubt upon the Company's ability to realize
its assets and discharge its liabilities in the normal course of
business and accordingly the appropriateness of the use of
accounting principles applicable to a going concern.
