Orosur Mining Inc. - Results of Annual General ...

Orosur Mining Inc. - Results of Annual General Meeting & Annual Option Issuance

Orosur Mining Inc.

Orosur Mining Inc. (“Orosur” or the “Company”) (TSX/AIM:OMI), a South American-focused gold producer, developer and explorer announces that at the Company’s Annual General Meeting (“AGM”) held at 11:00am (COT) this morning, all resolutions put to shareholders were duly passed. Additionally, the Company announces the granting of an aggregate of 1,925,000 stock options (“Options”) to directors, officers and employees.

AGM Voting Results

At the AGM, a total of 21,721,284 common shares of the 117,586,905 shares outstanding were voted at the meeting, representing approximately 21.8% of the issued and outstanding common shares of the Company. At the AGM, the nominees listed in the Company’s management proxy circular were re-elected as directors as follows:

Nominee   Votes For   % Votes For   Votes Withheld   % Votes Withheld
John Walmsley   17,067,961   86.32%   2,705,624   13.68%
Ignacio Salazar 18,186,411 91.97% 1,587,174 8.03%
Roger Davey 18,667,211 94.40% 1,106,374 5.60%
Horng Dih Lee 18,669,211 94.41% 1,104,374 5.59%
Jorge Aceituno 18,752,711 94.84% 1,020,874 5.16%
 

Stock Option Grant and Share Issuance

Officers and employees were granted a total of 1,410,000 stock options and the balance equivalent to 515,000 stock options were granted to Directors pursuant to the annual grant, which shall vest in three equal parts: the first part immediately and the second and third parts on November 17, 2018 and November 17, 2019, respectively.

All Options are exercisable at a price of Cdn$0.24 per common share, on or before November 17, 2022. Pricing is based on the closing price of the Orosur’s shares on November 16, 2017 on the Toronto Stock Exchange.

A summary of Director and Officer option grants and resultant interests is as follows:

Directors & Officers   Options Granted   Total Options   Total Shares   Ownership¹
John Walmsley   90,000   1,097,439   140,350   0.12%
Roger Davey 75,000 685,442 23,500 0.05%
H.D. Lee 75,000 575,000 64,386 0.02%
Ignacio Salazar 175,000 2,199,544 723,000 0.61%
Jorge Aceituno 100,000 250,000 - 0.00%
Alejandra Lopez 125,000 435,000 - 0.00%
Ryan Cohen   75,000   750,000   231,452   0.20%
Total   715,000   5,277,425   1,182,688   1.01%
 

Note 1: Percentage interest in total number of common shares currently issued and outstanding
Note 2: Pursuant to MARS regulations in the UK, individual notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them is contained at the end of this press release.

The total number of common shares currently issued and outstanding is 117,586,905, the total number of options outstanding is 9,124,093 following the options grant and the total number of warrants outstanding is 8,370,251.

About Orosur Mining Inc.

Orosur Mining Inc. (TSX: OMI; AIM: OMI) 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.

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 Ignacio Salazar, Chief Executive Officer of the Company (responsible for arranging release of this announcement) on: +1 (778) 373-0100.

Forward Looking Statements

All statements, other than statements of historical fact, contained or incorporated by reference in this news release, including any information as to the future financial or operating performance of the Company, constitute "forward-looking statements" within the meaning of certain securities laws, including the "safe harbour" provisions of the Securities Act (Ontario) and the United States Private Securities Litigation Reform Act of 1995 and are based on expectations estimates and projections as of the date of this news release. There can be no assurance that such statements will prove to be accurate. Such statements are subject to significant risks and uncertainties, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements include, without limitation success of exploration activities; permitting time lines; the failure of plant; equipment or processes to operate as anticipated; accidents; labour disputes; requirements for additional capital title disputes or claims and limitations on insurance coverage. The Company disclaims any intention or obligation to update or revise any forward looking statements whether as a result of new information, future events and such forward-looking statements, except to the extent required by applicable law.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:

1   Details of the person discharging managerial responsibilities / person closely associated
a)   Name   John Walmsley
2   Reason for notification
a)   Position / Status   Chairman of the Board
b)   Initial Notification/Amendment   Amendment
3   Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)   Name   Orosur Mining Inc,
b)   LEI   N/A
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

Identification code

  Options to subscribe for new ordinary share of no par value

 

CA6871961059

b)   Nature of the transaction   Grant of options
c)   Price(s) and volumes(s)   Volume(s)

Price(s)

 

90,000

CAD$0.24

d)   Aggregated information   N/A – single transaction
e)   Date of the transaction   17 November 2017
f)   Place of the transaction   Outside of trading venue
   
1   Details of the person discharging managerial responsibilities / person closely associated
a)   Name   Roger Davey
2   Reason for notification
a)   Position / Status   Director
b)   Initial Notification/Amendment   Amendment
3   Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)   Name   Orosur Mining Inc,
b)   LEI   N/A
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

Identification code

  Options to subscribe for new ordinary share of no par value

 

CA6871961059

b)   Nature of the transaction   Grant of options
c)   Price(s) and volumes(s)  

Volume(s)

75,000

 

Price(s)

CAD$0.24

d)   Aggregated information   N/A – single transaction
e)   Date of the transaction   17 November 2017
f)   Place of the transaction   Outside of trading venue
   
1   Details of the person discharging managerial responsibilities / person closely associated
a)   Name   H.D. Lee
2   Reason for notification
a)   Position / Status   Director
b)   Initial Notification/Amendment   Amendment
3   Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)   Name   Orosur Mining Inc,
b)   LEI   N/A
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

Identification code

  Options to subscribe for new ordinary share of no par value and new ordinary shares of no par value

 

CA6871961059

b)   Nature of the transaction   Grant of options
c)   Price(s) and volumes(s)  

Volume(s)

Options

 

Volume(s)

75,000

 

Price(s)

CAD$0.24

d)   Aggregated information   N/A – single transaction
e)   Date of the transaction   17 November 2017
f)   Place of the transaction   Outside of trading venue
1   Details of the person discharging managerial responsibilities / person closely associated
a)   Name   Ignacio Salazar
2   Reason for notification
a)   Position / Status   CEO & Director
b)   Initial Notification/Amendment   Amendment
3   Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)   Name   Orosur Mining Inc,
b)   LEI   N/A
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

Identification code

  Options to subscribe for new ordinary share of no par value

 

CA6871961059

b)   Nature of the transaction   Grant of options
c)   Price(s) and volumes(s)  

Volume(s)

175,000

 

Price(s)

CAD$0.24

d)   Aggregated information   N/A – single transaction
e)   Date of the transaction   17 November 2017
f)   Place of the transaction   Outside of trading venue
   
1   Details of the person discharging managerial responsibilities / person closely associated
a)   Name   Jorge Aceituno
2   Reason for notification
a)   Position / Status   COO & Director
b)   Initial Notification/Amendment   Amendment
3   Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)   Name   Orosur Mining Inc,
b)   LEI   N/A
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

Identification code

  Options to subscribe for new ordinary share of no par value

 

CA6871961059

b)   Nature of the transaction   Grant of options
c)   Price(s) and volumes(s)  

Volume(s)

100,000

 

Price(s)

CAD$0.24

d)   Aggregated information   N/A – single transaction
e)   Date of the transaction   17 November 2017
f)   Place of the transaction   Outside of trading venue
1   Details of the person discharging managerial responsibilities / person closely associated
a)   Name   Alejandra Lopez
2   Reason for notification
a)   Position / Status   CFO
b)   Initial Notification/Amendment   Amendment
3   Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)   Name   Orosur Mining Inc,
b)   LEI   N/A
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

Identification code

  Options to subscribe for new ordinary share of no par value

 

CA6871961059

b)   Nature of the transaction   Grant of options
c)   Price(s) and volumes(s)  

Volume(s)

100,000

 

Price(s)

CAD$0.24

d)   Aggregated information   N/A – single transaction
e)   Date of the transaction   17 November 2017
f)   Place of the transaction   Outside of trading venue
1   Details of the person discharging managerial responsibilities / person closely associated
a)   Name   Ryan Cohen
2   Reason for notification
a)   Position / Status   VP, Corporate Development & Corporate Secretary
b)   Initial Notification/Amendment   Amendment
3   Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)   Name   Orosur Mining Inc,
b)   LEI   N/A
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

Identification code

  Options to subscribe for new ordinary share of no par value and new ordinary shares of no par value

 

CA6871961059

b)   Nature of the transaction   Grant of options
c)   Price(s) and volumes(s)  

Volume(s)

Options

 

Volume(s)

75,000

 

Price(s)

CAD$0.24

d)   Aggregated information   N/A – single transaction
e)   Date of the transaction   17 November 2017
f)   Place of the transaction   Outside of trading venue

Orosur Mining Inc
Ignacio Salazar, Chief Executive Officer
info@orosur.ca
Tel: +1 (778) 373-0100
or
Cantor Fitzgerald Europe – Nomad & Joint Broker
David Porter/Keith Dowsing
Tel: +44 (0) 20 7894 7000
or
Numis Securities Limited – Joint Broker
John Prior / James Black / Paul Gillam
Tel: +44 (0) 20 7260 1000
or
FTI Consulting
Ben Brewerton / Sara Powell / Emerson Clarke
Tel: +44 (0) 20 3727 1000

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