Orosur Mining Inc.
Admission, issue of new common
shares
London, 30
December 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
19th December 2024, 18,939,394 new common shares of no
par value in the Company (the "New Common Shares") have been
admitted to trading on AIM today ("Admission"), at a placing price
of £0.066 (CAD$0.12).
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 256,158,737.
The figure of 256,158,737 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 19th
December 2024.
Broker´s
Fees
Turner Pope Investments (TPI) Ltd ("TPI"), the
Company's joint broker, received a fee of six (6) per cent. of the
funds raised in the placing (£75,000) and a corporate finance fee
of £30,000 which also covers its legal expenses. TPI also received
1,893,939 broker warrants equal in number to ten 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.
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.
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 States 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 include,
without limitation, the continuing focus on the Pepas prospect, the
exploration plans in Colombia and the funding of those
plans, and other events or conditions that may occur in the future.
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 and uncertainties
including, but not limited to those described in the Section "Risks
Factors" of the Company's MD&A for the year ended May 31,
2024. The Company's continuance as a going concern is dependent
upon its ability to obtain adequate financing, to reach profitable
levels of operations and to reach a satisfactory closure of the
Creditor´s Agreement in Uruguay. 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. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
future events and such forward-looking statements, except to the
extent required by applicable law.