REG - Orosur Mining Inc - Issuance of Options and RSUs

Orosur MiningAnnouncement

01/11/2024 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241101:nRSA5067Ka&default-theme=true

RNS Number : 5067K  Orosur Mining Inc  01 November 2024

 
 

 
Orosur Mining Inc.

 
                 Issuance of Options and RSUs

 

London, November 1, 2024 Orosur Mining Inc. ("Orosur" or "the Company") (TSXV:
OMI) (AIM: OMI) announces the granting of an aggregate of 4,000,000 stock
options over the Company's common shares ("Options") and an aggregate of
4,723,332 Restricted Stock Units ("RSUs") to directors, officers, employees
and consultants, upon recommendation of the Company's Remuneration Committee
as approved by shareholders at the Annual and Special Meeting held  on
December 19, 2023, full details of which are set out in the Company's 2023
Management Information Circular available on its website.

Award of Options and RSUs

In line with the Company's Equity Incentive Plan, officers, employees and
consultants of the Company were granted a total of 1,750,000 Options and
1,680,000 RSUs and in addition, 2,250,000 Options and 1,350,000 RSUs were also
granted to Directors, the first such awards made in more than two years. The
Options shall vest in three equal parts: one third immediately, one third on
the first anniversary of this grant and the final third on the second
anniversary. The RSUs entitle the holder to new common shares of the Company
upon the vesting conditions for the RSU being satisfied. There is no price
paid for the RSUs. The RSUs shall vest in two equal parts: half on the first
anniversary of this grant and half on the second anniversary.

All Options are exercisable at a price of Cdn$0.06 per common share, on or
before November 1, 2034, which was the closing price of Orosur's shares on
October 31, 2024 on the TSX Venture Exchange. This represents a premium of
19.6% over the closing price on the same day on AIM.

Issue of RSUs upon cancellation of options

The Company has also granted 1,693,332 RSUs to replace 5,758,332 options which
have been cancelled pursuant to the resolution approved by shareholders at the
Company's Annual and Special Meeting held in December 2023. Of these,
officers, employees and consultants were granted a total of 733,332 RSUs and
960,000 RSUs were granted to Directors.

Further to the award and issue of Options and RSUs set out above, the total
number of shares under Option and RSU is 13,596,665 which represents 5.8% of
the non-diluted issued share capital of the Company.

A summary of Director and Officer option and RSU grants and resultant
interests is as follows:

 Directors & Officers      RSUs Granted                       Options awarded  Total RSUs and options held  % Shareholding currently held in the Company

                           from cancellation   RSUs awarded

                           of options
 Louis Castro              0                   0              1,800,000        4,640,000                    0.11%
 Brad George               810,000             1,080,000      0                1,890,000                    0.17%
 Thomas Masney             150,000             270,000        0                420,000                      -
 Nick von Schirnding       0                   0              450,000          1,050,000                    -

 Omar Gonzalez             0                   0              250,000          250,000                      -
 Joaquín Sarroca           266,666             510,000        0                776.666                      0.05%
 Total                     1,226,666           1,860,000      2,500,000        9,026,666                    0.33%

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons associated closely with them:

 1   Details of person discharging managerial responsibilities/person closely
     associated
 a)  Full Name                                                    i.          Louis Castro

                                                                  ii.          Bradley George

                                                                  iii.         Thomas Masney

                                                                  iv.         Nick von Schirnding

                                                                  v.         Joaquin Sarroca

                                                                  vi.         Omar Gonzalez
 2   Reason for notification
 a)  Position/Status                                              i)          Chairman of the Board

                                                                  ii)          CEO and Director

                                                                  iii)         Non-Executive Director

                                                                  iv)         Non-Executive Director

                                                                  v)         Company Secretary and Corporate Counsel

                                                                  vi)         CFO
 b)  Initial notification/amendment                               Initial notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Orosur Mining Inc
 b)  LEI                                                          213800CRYQM3M8G1OI19
 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted.
 a)  Description of the financial instrument, type of instrument  Options to subscribe for new common shares of no par value and Granting of
                                                                  Restricted Stock Units ("RSUs")
 b)  Identification code                                          ISIN: CA6871961059
 c)  Nature of transaction                                        Grant of options and RSUs
 d)  Prices and volumes                                           i)          1,800,000 Options and nil RSUs

                                                                  ii)          1,890,000 RSUs and nil Options

                                                                  iii)         420,000 RSUs and nil Options

                                                                  iv)         450,000 Options and nil RSUs

                                                                  v)         776,666 RSUs and nil Options

                                                                  vi)         250,000 Options and nil RSUs
 e)  Aggregated information                                       Options 4,000,000 @ Cdn$0.06 and 4,732,332 RSUs at nil price
 f)  Date of transaction                                          November 1, 2024
 g)  Place of transaction                                         Outside of trading venue

 

 

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHBFLLXZBLXFBX