Orosur Mining Inc Announces Admission, Issue of New Common Shares

LONDON, UNITED KINGDOM / ACCESSWIRE / December 30, 2024 / Orosur Mining Inc. ("Orosur" or the "Company") (TSX-V:OMI)(AIM:OMI) is pleased to announce that further to the Company's announcement made on 19^th 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 19^th 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
[e-mail]
Tel: [phone]

SP Angel Corporate Finance LLP - Nomad & Broker
Jeff Keating / Caroline Rowe
Tel: [phone]

Turner Pope Investments (TPI) Ltd - Joint Broker
Andy Thacker / James Pope
Tel: [phone]

Flagstaff Communications
Tim Thompson / Mark Edwards
Fergus Mellon
[e-mail] Tel: [phone]

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

SOURCE: Orosur Mining Inc

View the original press release on accesswire.com