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Financings

Orosur closes $20-million private placement

By The Northwire Desk — AI Analysis Oct 02, 2025 · 18:31 OMI · 0.385 Orosur Mining Inc.
OMI · Price

Executive Summary

  • Orosur Mining Inc. closed an oversubscribed best‑effort private placement, raising approximately C$20 million in gross proceeds.
  • The offering sold 58,823,530 common shares at C$0.34 per share; the agent’s option was fully exercised for an additional C$2 million.
  • Net proceeds will be used primarily to advance the Anza exploration project in Colombia and for general working capital and corporate purposes.

Key Details

  • Gross Proceeds: Approximately C$20 million (including full exercise of the lead agent’s option for C$2 million).
  • Shares Sold: 58,823,530 common shares at C$0.34 per share (≈ £0.1809 per share).
  • Lead Agent / Bookrunner: Red Cloud Securities Inc.; Paradigm Capital Inc. acted as co‑agents.
  • Agent Compensation: Cash commission of $809,995.80 paid to the agents.
  • UK Broker Fees: £274,807.44 (≈ $516,638) paid to Turner Pope Investments Ltd., Greenwood Capital Partners Ltd., and SP Angel Corporate Finance LLP.
  • Exemptions Used: 36,764,706 shares sold under NI 45‑106 listed issuer financing exemption; no hold period required.
  • Use of Proceeds: Primarily to fund the Anza exploration project in Colombia; remainder for general working capital and corporate purposes.
  • AIM Admission Application: Shares applied for admission to trading on the Alternative Investment Market (AIM); expected effective around Oct 3 2025, with trading at 8 a.m. UK time.
  • Closing Condition: Subject to final approval by the TSX Venture Exchange.
  • Related‑Party Transaction: 1832 Asset Management LP subscribed for 4,412,000 shares (≈ 11.5% post‑closing ownership). The transaction complies with AIM Rule 13 and TSX‑V Policy 5.9; exemptions from formal valuation and minority approval were relied upon because the fair market value does not exceed 25% of market cap.
  • Post‑Closing Share Count: After exercise of warrants (581,500 shares for $145,375) the total issued share count will be 385,163,924, to be used as the denominator for DTR disclosure calculations.

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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