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

Orosur MiningAnnouncement

30/12/2024 12:45

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RNS Number : 6293R  Orosur Mining Inc  30 December 2024

 

 

 

 

 

Orosur Mining Inc.

 

Admission, issue of new common shares

 

London, 30 December 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 19(th) December 2024, 18,939,394 new common shares of no
par value in the Company (the "New Common Shares") have been admitted to
trading on AIM today ("Admission"), at a placing price of £0.066 (CAD$0.12).

 

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 256,158,737.

 

The figure of 256,158,737 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 19(th) December 2024.

 

Broker´s Fees

 

Turner Pope Investments (TPI) Ltd ("TPI"), the Company's joint broker,
received a fee of six (6) per cent. of the funds raised in the placing
(£75,000) and a corporate finance fee of £30,000 which also covers its legal
expenses. TPI also received 1,893,939 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

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the
European Union (Withdrawal) Act 2018. Upon the publication of this
announcement via Regulatory Information Service ('RIS'), this inside
information is now considered to be in the public domain.

 

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, the continuing 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 those
described in the Section "Risks Factors" of the Company's MD&A for the
year ended May 31, 2024. The Company's continuance as a going concern is
dependent upon its ability to obtain adequate financing, to reach profitable
levels of operations 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. 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.

 

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