Admission, issue of new common shares and issue of warrants
CORPORATE
Orosur Mining Inc.
Admission, issue of new common shares and issue of warrants
London, 21 st February 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 15th February 2024, 16,949,152 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 £0.0295 (CAD$0.0502).
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 205,509,452.
The figure of 205,509,452 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
15th February 2024.
Issuance of Warrants
As set out in the Company's announcement on 15 th February 2024, the Company
has also issued 16,949,152 warrants, exercisable at a price of US$0.0558
(CAD$0.0758 or 4.425p) with an expiry date of 21 st February 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 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 (£30,000),
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 1,694,915 broker warrants equal in
number to t en 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.
CORPORATE
For further information, visit www.orosur.ca, follow on X @orosurm or please contact:
Orosur Mining Inc
Louis Castro, Chairman,
Brad George, CEO
Tel: +1 (778) 373-0100
SP Angel Corporate Finance LLP - Nomad & Broker
Jeff Keating / Caroline Rowe / Kasia Brzozowska
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
[email protected] 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 (Withdrawa l) 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, Nigeria and Brazil.
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 Stat es 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 and information include, without limitation, the use of net proceeds of the
Placing, the progression of the Company's exploration plans in Colombia and the ability of the Company
to conclude negotiations with the Company's partne rs in Colombia, as well as continuation of the
business of the Company as a going concern and other events or conditions that may occur in the
future. The Company's continuance as a going concern is dependent upon its ability to obtain adequate
financing. 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. 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 an d uncertainties including, but not limited, those as described in the most recent
MD&A's of the Company. The Company disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information, future eve nts and such forward -
looking statements, except to the extent required by applicable law.