Orosur Mining Inc: Shares Issuance and Stock Option Grant
SANTIAGO, Chile, March 3, 2016. Orosur Mining Inc. (“Orosur” or the “Company”) (TSX/AIM: OMI), a South American-focused gold producer, developer and explorer announces that it has granted an aggregate of 193,880 stock options (“Options”) and 126,226 common shares (“Shares”) to directors and officers in lieu of 20% of their standard cash compensation for the period commencing December 1, 2015 and ending February 29, 2016 (the “Period”), equivalent to an aggregate cash amount of US$29,512.50.
All Options are fully vested and are exercisable at a price of Cdn$0.13 per common share, on or before March 1, 2021. Pricing was determined by calculating the volume weighted average closing price of the Orosur’s shares on the Toronto Stock Exchange over the Period.
A Revised Summary of Director and Officers share interests is as follows:
Directors & Options Shares Total Total Ownership¹
| Officers | Granted | Issued | Options | Shares | |||
|---|---|---|---|---|---|---|---|
| John Walmsley | 35,251 | - | 860,251 | 140,350 | 0.14% | ||
| Roger Davey | 23,049 | - | 498,049 | 23,500 | 0.02% | ||
| H.D. Lee | - | 21,693 | 515,000 | 29,193 | 0.03% | ||
| Pablo Marcet | - | 16,270 | 762,500 | 2,204,539 | 2.23% | ||
| Ignacio Salazar | 135,580 | - | 1,535,580 | 773,000 | 0.78% | ||
| Ryan Cohen | - | 88,263 | 600,000 | 88,263 | 0.09% | ||
| Total | 193,880 | 126,226 | 4,771,380 | 3,258,845 | 3.30% |
Note 1: Percentage interst in total number of common shares currently issued and outstanding
Application has been made for the Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings will commence on 8, March 2016 in respect of the Shares. Following Admission, the total number of common shares currently issued and outstanding will be 98,865,201 and the total number of options outstanding is 8,126,380 following the options grant.
For more information please visit www.orosur.ca or contact:
Orosur Mining Inc
Ignacio Salazar, Chief Executive Officer [email protected] Tel: + 562 2924 6800
Cantor Fitzgerald Europe
Stewart Dickson / Carrie Drummond / Philip Davies Tel: +44 (0) 20 7894 7000
FTI Consulting
Ben Brewerton / Oliver Winters / Sara Powell Tel: +44 (0) 20 3727 1000