Orosur Mining private placement oversubscribed, targets C$14M

Orosur Mining Inc. (TSXV: OMI) (AIM: OMI) announced that its brokered private placement has been oversubscribed and fully allocated, with the company seeking to raise gross proceeds of up to C$14,000,000 through the sale of up to 43,750,000 units priced at C$0.32 per unit.

Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at US$0.32, exercisable between 61 days and 24 months following the closing date.

Red Cloud Securities Inc. is acting as sole agent and bookrunner, alongside U.K. corporate brokers Turner Pope Investments (TPI) Ltd. and Greenwood Capital Partners Limited. The agent has also been granted an option to sell up to an additional 6,250,000 units at the same offering price, which would generate up to an additional C$2,000,000 in gross proceeds.

The offering is scheduled to close on or around October 6, 2026, subject to regulatory approvals including the TSX Venture Exchange and admission of shares to the AIM Market of the London Stock Exchange.

According to the company, net proceeds will be used primarily to advance its Anzá exploration project in Colombia, with drilling planned at the El Cedro target, as well as for general working capital. The company stated the funds should carry operations into late 2027.

Executive Chairman Louis Castro said: "We are delighted at the take up of the Offering and the oversubscription in difficult market conditions. We appreciate the support of existing and new investors."

You May Also Be Interested In

• Strive Enterprises (ASST) Reiterated at Buy by StoneX on Launch of Digital Credit ETF
• TTGI plans C$3.5M private placement and C$2M debt settlement
• UL Solutions flags fake certification marks on CO detectors sold on Amazon