Orosur Mining Inc. – Annual Option Issuance
Orosur Mining Inc. (“Orosur” or “the Company”) (TSX: OMI) (AIM: OMI) announces the granting of an aggregate of 1,460,000 stock options (“Options”) to directors, officers and employees, upon recommendation of the Company’s Remuneration Committee.
ANNUAL STOCK OPTION GRANT
Officers and employees were granted a total of 1,245,000 Options and the balance equivalent to 215,000 Options were granted to Directors pursuant to the annual grant, which shall vest in three equal parts: the first part immediately and the second and third parts on November 14, 2020 and November 14, 2021, respectively.
All Options are exercisable at a price of C$0.05 per common share, on or before November 14, 2024. Pricing is based on the closing price of the Orosur’s shares on November 14, 2019 on the Toronto Stock Exchange.
A summary of Director and Officer option grants and resultant interests is as follows:
| Directors & Officers | Options Granted | Total Options | Total Shares | Ownership¹ | ||||
| Robert Schafer | 115,000 | 315,000 | - | - | ||||
| H.D. Lee | 100,000 | 775,000 | 64,386 | 0.04% | ||||
| Ignacio Salazar | 215,000 | 2,114,544 | 723,000 | 0.48% | ||||
| Victor Hugo | 75,000 | 75,000 | - | - | ||||
| Ryan Cohen | 75,000 | 685,000 | 231,452 | 0.15% | ||||
| Total | 580,000 | 3,964,544 | 1,018,838 | 0.68% |
Note 1: Percentage interest in total number of common shares currently issued and outstanding
Note 2: Pursuant to Market Abuse Regulation, individual notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them is contained at the end of this press release.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation ("MAR"). Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain. If you have any queries on this, then please contact Ryan Cohen, VP Corporate Development of the Company (responsible for arranging release of this announcement on behalf of the Company) on: +1 (778) 373-0100.
About Orosur Mining Inc.
Orosur Mining Inc. (TSX: OMI; AIM: OMI) is a precious metals developer and explorer focused on identifying and advancing gold projects in South America. The Company operates in Colombia and Uruguay.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Full name of person Dealing |
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| 2 | Reason for notification | ||||
| a) | Position / Status |
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| b) | Initial Notification/Amendment | Amendment | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | ||||
| b) | LEI | N/A | |||
| 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 ordinary share of no par value | |||
| b) | Identification code | CA6871961059 | |||
| c) | Nature of the transaction | Grant of options | |||
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| Volume(s) | Price(s) | |
| i. 115,000 | i. C$0.05 | ||||
| d) | Price(s) and volumes(s) | ii. 100,000 | ii. C$0.05 | ||
| iii. 215,000 | iii. C$0.05 | ||||
| iv. 75,000 | iv. C$0.05 | ||||
| v. 75,000 | v. C$0.05 | ||||
| e) | Aggregated information: |
| |||
| - Aggregated volume | Volume(s) | Price(s) | |||
| - Price | 580,000 | C$0.05 | |||
| f) | Date of the transaction | 14 November 2019 | |||
| g) | Place of the transaction | Outside of trading venue | |||
View source version on businesswire.com: https://www.businesswire.com/news/home/20191118005974/en/
Contact
Orosur Mining Inc.
Ignacio Salazar, Chief Executive Officer
Ryan Cohen, VP Corporate Development
info@orosur.ca
Tel: +1 (778) 373-0100
SP Angel Corporate Finance LLP – Nomad & Joint Broker
Jeff Keating / Stephen Wong
Tel: +44 (0)20 3 470 0470