Last checked at 1 Sep 2016 07:00
Orosur Mining Inc. (“Orosur” or the “Company”) (TSX/AIM: OMI), a South American-focused gold producer, developer and explorer announces that it has granted an aggregate of 83,680 stock options (“Options”) and 54,480 common shares (“Shares”) to directors and officers in lieu of 20% of their standard cash compensation for the period commencing June 1, 2016 and ending August 31, 2016 (the “Period”), equivalent to an aggregate cash amount of US$29,512.50.
All Options are fully vested and are exercisable at a price of Cdn$0.28 per common share, on or before September 1, 2021. Pricing was determined by calculating the volume weighted average closing price of the Orosur’s shares on the Toronto Stock Exchange over the Period.
A Revised Summary of Director and Officers share interests is as follows:
| Directors &Officers | Options Granted | Shares Issued | TotalOptions | TotalShares | Ownership¹ | ||||||
| John Walmsley | 15,215 | - | 898,862 | 140,350 | 0.14% | ||||||
| Roger Davey | 9,948 | - | 523,295 | 23,500 | 0.02% | ||||||
| H.D. Lee | - | 9,363 | 425,000 | 52,954 | 0.05% | ||||||
| Pablo Marcet | - | 7,022 | 575,000 | 1,222,360 | 1.23% | ||||||
| Ignacio Salazar | 58,517 | - | 1,684,082 | 773,000 | 0.78% | ||||||
| Ryan Cohen | - | 38,095 | 600,000 | 184,938 | 0.19% | ||||||
| Total | 83,680 | 54,480 | 4,706,239 | 2,397,102 | 2.41% |
Note 1: Percentage interest in total number of common shares currently issued and outstanding
Application has been made for the Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings will commence on 7, September 2016 in respect of the Shares. Following Admission, the total number of common shares currently issued and outstanding will be 99,613,458 and the total number of options outstanding is 6,616,239 following the options grant.
For more information, please visit www.orosur.ca.
Orosur Mining IncIgnacio Salazar, Chief Executive Officerinfo@orosur.caTel: +1 (778) 373-0100
Cantor Fitzgerald EuropeStewart Dickson / Carrie Drummond / Philip DaviesTel: +44 (0) 20 7894 7000
FTI ConsultingBen Brewerton / Oliver Winters / Sara PowellTel: +44 (0) 20 3727 1000
View source version on businesswire.com: http://www.businesswire.com/news/home/20160831006533/en/
Copyright Business Wire 2016