MEDELLIN, Colombia--(BUSINESS WIRE)--
Orosur Mining Inc. (“Orosur” or “the Company”) (TSX: OMI) (AIM: OMI) announces the issuance of 10,000,000 common shares pursuant to the Company’s previously announced payment plan agreement between the Company’s wholly-owned subsidiary, Loryser SA (“Loryser”) and Loryser’s creditors (the “Agreement”)
CREDITOR SHARE ISSUANCE
On December 6, 2019, 10,000,000 common shares were issued to a trust for the benefit of Loryser’s creditors as contemplated in the court-approved Agreement.
Application has been made for the new common shares to be admitted to trading on AIM. It is expected that Admission will become effective at 8.00 am (GMT) on or around December 11th, 2019. If Admission is delayed, any variations to this timetable will be announced via a Regulatory Information Service.
As a result of the share issuance and annual stock option grant, the number of common shares issued and outstanding is 160,277,672 and the total number of options is 9,110,759 and warrants outstanding is 8,370,251. The common shares issued to the trust are subject to a hold period expiring four months and one day following the issuance date in accordance with applicable Canadian securities laws.
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. If you have any queries on this, then please contact Ryan Cohen, VP Corporate Development of the Company (responsible for arranging release of this announcement on behalf of the Company) on: +1 (778) 373-0100.
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.
Orosur Mining Inc
Ignacio Salazar, Chief Executive Officer
Ryan Cohen, VP Corporate Development
Tel: +1 (778) 373-0100
SP Angel Corporate Finance LLP – Nomad & Joint Broker
Jeff Keating / Stephen Wong
Tel: +44 (0)20 3 470 0470