Orosur Mining Inc Announces Issue of New Common Shares and Issue of Warrants

LONDON, UK / ACCESSWIRE / February 21, 2024 / Orosur Mining Inc. ("Orosur" or the "Company") (TSX-V:OMI)(AIM:OMI) is pleased to announce that further to the Company's announcement made on 15^th February 2024, 16,949,152 new common shares of no par value in the Company (the "New Common Shares") have been admitted to trading on AIM today (the "Admission"), at a placing price of £0.0295 (CAD$0.0502).

Following the issue of the New Common Shares, which will rank pari passu with the existing common shares of the Company, the total number of common shares issued and outstanding with voting rights in the Company will be 205,509,452.

The figure of 205,509,452 common shares may therefore be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further details in relation to the placing, including the gross amount raised, and intended use of proceeds, please see the Company's press release from 15^th February 2024.

Issuance of Warrants

As set out in the Company's announcement on 15^th February 2024, the Company has also issued 16,949,152 warrants, exercisable at a price of US$0.0558 (CAD$0.0758 or 4.425p) with an expiry date of 21^st February 2026. The warrants, which are unlisted, will be issued pursuant to a warrant indenture entered into by the Company under a deed poll constituted under English law. Warrant holders will receive certificates representing the warrants issued to them in due course.

Broker Fees

Turner Pope Investments (TPI) Ltd ("Turner Pope" or "TPI"), the Company's joint broker, received a fee of six (6) per cent. of the funds raised in the placing (£30,000), a corporate finance fee of £30,000 which also covers its legal expenses, and will receive a commission of six (6) per cent. of the gross value received by the Company from the exercise of the warrants described above, if any are exercised during their two-year exercise period. TPI also received 1,694,915 broker warrants equal in number to ten per cent. of the New Common Shares, exercisable at the placing price at TPI's option at any time in the five years following Admission.