Orosur Announces Brokered Private Placement for Gross Proceeds of up to C$14.0 Million
Orosur raised C$14m in a placement to extend its financial runway for Colombian gold exploration projects.
Orosur Mining Inc. announced a best-efforts brokered private placement for gross proceeds of up to C$14.0 million, with an agent's option to raise an additional C$2.0 million. The offering consists of up to 43,750,000 Units priced at C$0.32 per Unit. Each Unit comprises one common share and one-half of one common share purchase warrant. Warrants are exercisable at US$0.32 per share, from 61 days post-closing until 24 months following the closing date.
Net proceeds will be used principally to advance the Anzá exploration project in Colombia and for general working capital. Closing is scheduled for on or around October 6, 2026, subject to TSX-V and AIM Market approvals. Total voting rights post-issuance will reach 445,946,324 common shares.
Orosur Mining Inc. has secured financing to provide essential liquidity for ongoing exploration at its El Cedro and APTA projects, as well as for general corporate expenses. With a cash balance of $13.66 million as of Feb 28, 2026, and an explicit going concern warning in the MD&A, this capital raise directly addresses near-term solvency.
The offering is dilutive, increasing the share count by approximately 9.8%, from roughly 395.9 million to 445.9 million shares. The price of C$0.32 per unit represents a modest discount to recent trading levels, a typical feature of brokered placements that has contributed to the stock's recent downward pressure.
The news is expected and incremental to the company's historical capital raising pattern. While it does not alter the fundamental exploration-stage status or immediately de-risk the projects, it extends the operational runway by roughly 12 months.
Orosur Mining Inc. (OMI) is a pre-revenue gold exploration and development company operating primarily in Colombia and Argentina. Its flagship Anzá Project is located in Colombia’s Mid-Cauca gold belt, covering an area of approximately 330 km² to 530 km² depending on pending applications. The project hosts three primary prospects: Pepas, APTA, and El Cedro.
Pepas has declared a maiden Mineral Resource Estimate of 219,000 oz Au and is advancing toward feasibility and permitting. APTA is a high-grade epithermal system constrained by the Aragon fault zone, which has yielded significant drill intersections, including more than 135m @ 1.91 g/t Au. El Cedro is a grassroots porphyry/hydrothermal target where the first drill results showed 61.35m @ 0.93 g/t Au.
The company also holds the El Pantano project in Argentina. This low-sulphidation epithermal system was recently earned to 100% ownership following the completion of joint venture obligations.