Last checked at 11 Mar 2022 14:50
Orosur Mining Inc.
Annual Stock Options Issuance
London, March 11th, 2022. Orosur Mining Inc. ("Orosur" or "the Company") (TSXV: OMI) (AIM: OMI) announces the granting of an aggregate of 4,120,000 stock options ("Options") to directors, officers and employees, upon recommendation of the Company's Remuneration Committee and in line with the stock option plan as approved by shareholders at the Annual General Meeting held in December 2021.
ANNUAL STOCK OPTION GRANT
Officers and employees were granted a total of 1,720,000 Options and 2,400,000 Options were granted to Directors pursuant to the annual grant. The Options shall vest in two equal parts: the first part immediately and the second part on the anniversary on the date of this grant.
All Options are exercisable at a price of Cdn$0.22 per common share, on or before March 11th, 2027. The exercise price is at a 22% premium to the closing price of Orosur's shares on March 10th, 2022 on the TSX Venture Exchange.
Further to this issue of Options, the total number of shares under option is 11,639,999 which represents 6.2% of the non-diluted issued share capital of the Company.
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 | 900,000 | 2,840,000 | 95,000 | 0.05% |
Brad George | 900,000 | 2,800,000 | 112,000 | 0.06% |
Thomas Masney | 300,000 | 600,000 | 10,000 | 0.005% |
Nick von Schirnding | 300,000 | 600,000 | - | 0% |
Victor Hugo | 100,000 | 275,000 | - | 0% |
Joaquín Sarroca | 400,000 | 1,231,666 | 50,344 | 0.027% |
Total | 2,900,000 | 8,346,666 | 267,344 | 0.142% |
Note 1: Percentage interest in total number of common shares currently issued
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons associated closely with them:
1 | Details of person discharging managerial responsibilities/person closely associated | |
a) | Full Name | i. Louis Castro ii. Bradley George iii. Thomas Masney iv. Nick von Schirnding v. Joaquin Sarroca vi. Vic Hugo |
2 | Reason for notification | |
a) | Position/Status | i) Chairman of the Board ii) CEO and Director iii) Non-Executive Director iv) Non-Executive Director v) Company Secretary and Corporate Counsel vi) CFO |
b) | Initial notification/amendment | Initial notification |
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 common shares of no par value |
b) | Identification code | ISIN: CA6871961059 |
c) | Nature of transaction | Grant of options |
d) | Prices and volumes | i) 900,000 @ Cdn$0.22 ii) 900,000 @ Cdn$0.22 iii) 300,000 @ Cdn$0.22 iv) 300,000 @Cdn$0.22 v) 400,000 @ Cdn$0.22 vi) 100,000 @ Cdn$0.22 |
e) | Aggregated information | 2,900,000 @ Cdn$0.22 |
f) | Date of transaction | March 11th, 2022 |
g) | Place of transaction | Outside of trading venue |
For further information, please contact:
Orosur Mining Inc
Louis Castro, Chairman,
Brad George, CEO
info@orosur.ca
Tel: +1 (778) 373-0100
Turner Pope Investments (TPI) Ltd - Joint Broker
Andy Thacker
Tel: +44 (0)20 3657 0050
SP Angel Corporate Finance LLP - Nomad & Broker
Jeff Keating / Caroline Rowe
Tel: +44 (0) 20 3 470 0470
Flagstaff 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-V: OMI; AIM: OMI) is a minerals explorer and developer focused on identifying and advancing projects in South America. The Company currently operates in Colombia, Argentina and Brazil.