Orsu Metals Corporation (“Orsu” or the “Company”), the dual listed (TSX: OSU; AIM: OSU) London-based base and precious metals exploration and development company, today announces that, with immediate effect, the Company’s UK registered office will be Berkeley Square House, Berkeley Square, London W1J 6BD, United Kingdom.
The change arises as a result of the end of the Company’s lease for its former offices at 1 Red Place, London, United Kingdom on February 6, 2016. Management took the decision not to renew the lease or to enter into another long term commitment, and have instead opted for short term serviced accommodation for the foreseeable future, and as a result expects to achieve substantial savings from the Company’s ongoing cost base for the remainder of the current financial year, which will be partly mitigated by the costs of moving offices.
This press release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information contained or referred to in this press release includes, but may not be limited to, the potential sale of the Licences and the timing and terms thereof, as well as the Company’s expectations relating to the use of any proceeds received from such sale.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the inability to maintain the Licences and any required permits, authorizations and/or approvals from the appropriate regulatory authorities, and other risks relating to the regulatory framework in Kyrgyzstan, adverse changes in the laws or political environment in Kyrgyzstan, adverse changes in commodities prices, as well as certain other risks set out in the Company’s public documents, including its annual information form dated March 27, 2015, filed under the Company’s profile on SEDAR at www.sedar.com.
The forward-looking information in this press release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this press release, the Company has made assumptions about: the Company’s business, the economy and the mineral resources development and extraction industry in general; and the Company’s ability to maintain the Licences. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.
For further information, please contact:
Kevin Denham, Chief Financial Officer and Company Secretary, Orsu Metals Corporation
Tel: +44 (0) 20 7518 3999
Henry Fitzgerald-O’Connor, Martin Davison Canaccord Genuity Limited
Tel: +44 (0) 20 7523 8000