Orosur Mining Inc. New Director Option Issuance
Orosur Mining Inc. (“Orosur” or “the Company”) (TSX/AIM: OMI), a South American-focused gold developer and explorer announces the granting of an aggregate of 440,000 stock options (“Options”) to the Company’s two new Directors upon recommendation and authorisation by the Company’s Board of Directors. Mr. Brad George and Mr. Louis Castro were granted a total of 440,000 Options, which shall vest in three equal parts: the first part immediately and the second and third parts on May 4, 2021 and May 4, 2022, respectively.
All Options are exercisable at a price of C$0.04 per common share, on or before May 4, 2025. Pricing is based on the closing price of the Orosur’s shares on May 1, 2020 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 | |
| Louis Castro | 240,000 | 240,000 | - | - |
|
| Brad George | 200,000 | 200,000 | - | - |
|
| H.D. Lee | - | 475,000 | 64,386 | 0.04 | % |
| Ignacio Salazar | - | 1,414,544 | 723,000 | 0.45 | % |
| Victor Hugo | - | 75,000 | - | - |
|
| Ryan Cohen | - | 485,000 | 231,452 | 0.14 | % |
| Total | 440,000 | 2,889,544 | 1,018,838 | 0.64 | % |
| 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 | i. Louis Castro | |||
| ii. Brad George | |||||
| iii. | |||||
| 2 | Reason for notification | ||||
| a) | Position / Status | i. Chairman of the Board | |||
| ii. Non-Executive Director | |||||
| iii. | |||||
| b) | Initial Notification/Amendment | Initial | |||
| 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 ordinary share of no par value | |||
| b) | Identification code | CA6871961059 | |||
| c) | Nature of the transaction | Grant of options | |||
| d) | Price(s) and volumes(s) | Volume(s) | Price(s) | ||
| i. 240,000 | i. C$0.04 | ||||
| ii. 200,000 | ii. C$0.04 | ||||
| e) | Aggregated information: | ||||
| - Aggregated volume | Volume(s) | Price(s) | |||
| - Price | 440,000 | C$0.04 | |||
| f) | Date of the transaction | 4-May-20 | |||
| g) | Place of the transaction | Outside of trading venue | |||
View source version on businesswire.com: https://www.businesswire.com/news/home/20200503005086/en/
Contact
For further information:
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 / Caroline Rowe
Tel: +44 (0) 20 3 470 0470