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
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
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
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.