Orosur Mining Inc Announces Options Exercise and Sale of Shares
LONDON, March 12, 2021 - Orosur Mining Inc. ("Orosur" or "the Company") (TSX:OMI)(AIM:OMI), a South American-focused gold developer and explorer announces that following the exercise of share options by Orosur's legal counsel and corporate secretary, Joaquin Sarroca, the Company will issue 168,334 New Common Shares which, on Admission, will rank pari passu with the existing Common Shares. It is expected that Admission of these New Common Shares will become effective on or about March 17, 2021. In large part to meet the exercise costs of these options, Mr. Sarroca has sold 100,000 shares in the Company. As a result of the exercise of options and the sale of shares, noted above, Mr. Sarroca has increased his shareholding in the Company by 68,334 shares. He now holds 168,334 shares in the Company representing 0.09% of the Company's issued share capital.
Further to the issue of New Common Shares noted above, the total number of common shares of no par value in the Company as at the date of this announcement is 188,346,770. There are currently no shares held in treasury. The total number of voting rights in the Company is therefore 188,346,770. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company.
For further information, 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 & Joint Broker
Jeff Keating / Caroline Rowe
Tel: +44 (0) 20 3 470 0470
Turner Pope Investments (TPI) Ltd - Joint Broker
Andy Thacker/Zoe Alexander
Tel: +44 (0)20 3657 0050
Flagstaff Communications and Investor 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 Regulation ("MAR"). Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.
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 PDMR / person closely associated with them ('PCA') | |||
| a) | Name | Joaquin Sarroca | ||
| 2. | Reason for notification | |||
| a) | Position / status | Legal counsel and Company Secretary | ||
| b) | Initial notification / amendment | Initial notification | ||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||
| a) | Name | |||
| b) | LEI | 213800CRYQM3M8G1OI19 | ||
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; | |||
| c) | Description of the financial instrument | Common shares of no par value each ISIN: CA6871961059 | ||
| d) | Nature of the transaction | Exercise of options and Sale of shares | ||
| e) | Price(s) and volume(s) | Price(s) | Volume(s) | |
| 1. Exercise of options : Cdn$ 0.235 Cdn$ 0.05 2. Sale of shares: Cdn$ 0.3525 | 75,000 93,334 100,000 | |||
| f) | Aggregated information Aggregated volume Price | See above. | ||
| g) | Date of the transaction | 10 March 2021 | ||
| h) | Place of the transaction | AIM and TSX | ||
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SOURCE: Orosur Mining Inc.