11:47:31 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Orosur Mining Inc
Symbol OMI
Shares Issued 117,586,905
Close 2018-07-09 C$ 0.045
Market Cap C$ 5,291,411
Recent Sedar Documents

Orosur Mining arranges $250,000 (U.S.) financing

2018-07-10 06:22 ET - News Release

Mr. Ignacio Salazar reports

OROSUR MINING INC. A US$250,000 FINANCING AT 102% PREMIUM TO MARKET

Orosur Mining Inc. continues to advance discussions to finance the next stage of exploration at the Anza project in Colombia. In connection with these discussions, a sophisticated international mining company has agreed to advance $250,000 (U.S.) to subscribe for 3,603,077 common shares of Orosur at a price of 9.1 cents (5.2 pence) per share. The share price represents a 102-per-cent premium to the closing price of the company's common shares on the Toronto Stock Exchange on July 9, 2018.

Completion of the subscription is subject to, amongst other things, the execution of definitive private placement documentation and the approval of the Toronto Stock Exchange and admission of the common shares to trading on the Alternative Investment Market.

Upon admission, the total number of common shares and voting rights issued and outstanding will be 121,189,982 and the total number of options and warrants outstanding shall remain unchanged at 17,241,010. The common shares issued in connection with the subscription will be subject to a hold period expiring four months and one day following the closing date in accordance with applicable Canadian securities laws. The company expects to close the subscription during August, 2018. At closing, it is anticipated that the subscriber will own approximately 2.97 per cent of the company's issued and outstanding common shares on an undiluted basis.

The net proceeds from the subscription will be used for general corporate purposes and working capital requirements.

About Orosur Mining Inc.

Orosur Mining is a fully integrated gold producer, developer and explorer focused on identifying and advancing gold projects in South America. The company operates the only producing gold mine in Uruguay (San Gregorio) and has assembled an exploration portfolio of high-quality assets in Uruguay, Chile and Colombia.

We seek Safe Harbor.

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