22nd Jun 2011 07:00
Orosur Mining Inc. Completes Private Placement Orosur Mining Inc. Orosur Mining Inc. ("OMI" or the "Company") (TSX VENTURE: OMI) (LSE: OMI), theSouth American-focused gold producer and explorer, is pleased to announce that ithas completed the previously announced private placement (the "Offering") of Commonshares of the Company (the "Common Shares") at a price of 66 pence per Common Sharefor gross proceeds of £8,250,726. Canaccord Genuity Limited acted as agent for the Offering and was paid a commissioncomprised of (i) 5 percent of the gross proceeds raised in the Offering in cash,and (ii) 562,550 broker warrants equivalent to 4.5% of the number of Common Sharesissued under the Offering, with each broker warrant entitling the holder thereofto acquire a Common Share at an exercise price of 66 pence per Common Share untilthe date that is 18 months from the closing date of the Offering. The securities issued pursuant to the Offering (both the Common Shares and the brokerwarrants) are subject to a Canadian hold period expiring October 21, 2011. The proceeds of the Offering will be used to make payments in respect of the proposedacquisition of the Talca gold property, Talca exploration and further potential acquisitionsand exploration in the Talca district. ENDSRelated Shares:
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