Orosur Mining Inc. has successfully raised £1.25 million through a placing to fund further exploration activities at its Anzá project in Colombia.
Orosur Mining Inc. ('Orosur' or the 'Company') (TSXV:OMI)(AIM:OMI) announces that it has raised £1.25 million through a placing of 18,939,394 new common shares at a price of 6.6 pence per share. Completion is subject to admission to trading on AIM ('Admission') and review and acceptance by the TSX-V. The Company held cash of US$500,000 as at 18 December 2024, and the additional funds will be used largely to progress the Company's Anzá exploration project in Colombia.
Work at Anzá will include further drilling at the Pepas prospect, mineral resource review work at APTA and more detailed sampling and mapping at El Cedro and El Roble. The placing price represents a discount of approximately 25 per cent. to the closing mid-market price on 18 December 2024 on both AIM and TSX-V. The placing shares will, when issued, represent approximately 8.0 per cent of the existing common shares and will represent approximately 7.4 per cent of the enlarged share capital of the Company. The placing was undertaken by Turner Pope Investments (TPI) Ltd ('Turner Pope' or 'TPI'), the Company's Joint Broker
FINANCE EXPLORATION MINING COLOMBIA OROSUR MINING
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