REG - Orosur Mining Inc - Issue of new common shares and issue of warrants

Orosur MiningAnnouncement

21/02/2024 08:15

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RNS Number : 8983D  Orosur Mining Inc  21 February 2024

 

 

 

 

 

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 15(th) 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 15(th) 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 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 (http://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 / 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

orosur@flagstaffcomms.com (mailto: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, 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 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 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 partners 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 and 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
events and such forward-looking statements, except to the extent required by
applicable law.

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