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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