REG - Orosur Mining Inc - Admission, issue of new common shares and warrants

Orosur MiningAnnouncement

04/10/2024 08:15

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RNS Number : 9075G  Orosur Mining Inc  04 October 2024

 

 

 

 

 

Orosur Mining Inc.

 

Admission, issue of new common shares and issue of warrants

 

London, 4(th) 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 30(th) 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 30(th) September 2024.

 

Issuance of Warrants

 

As set out in the Company's announcement on 30(th) 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 4(th) 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 (http://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 (mailto: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.

 

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