Issuance of Options and RSUs
Orosur Mining Inc.
Issuance of Options and RSUs
London, November 1, 2024 Orosur Mining Inc. (“Orosur” or “the Company”) (TSX V: 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 TS X 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 ha s also granted 1,693,332 RSUs to replace 5,758,332 options which have been
cancelled pursuant to the resolutio n 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
from cancellation
of options
RSUs awarded Options awarded
Total RSUs
and options
held
% Shareholding
currently held in
the Company
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, 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
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 and Nigeria.