Orsu Metals Corporation (TSX-V: OSU) (“Orsu” or the “Company”) reports that it has reached agreement with its directors, officers and a consulting advisor that each director, officer or consulting advisor may elect to be paid up to 100% of their annual fees (“Fees”) in common shares of the Company, subject to the approval of the TSX Venture Exchange (the “Exchange’). The Company will settle the total amount accrued at the end of the calendar year by the issue of shares to be priced at the closing price on the last day of each year.
To December 31, 2017, there is a total accrual of the Canadian equivalent of $86,192 Fees which will be settled in full by the issue of a total of 522,371 shares of the Company priced at $0.165, being the closing share price on December 29, 2017. Of these 354,089 shares will be issued upon receipt of Exchange approval and the remaining 168,282 will remain subject to shareholder approval at the Company’s next annual general meeting as the issue of the shares will create a change of control for one director.
All shares issued will be subject to a four-month hold period from the date of issue.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Doris Meyer, Corporate Secretary, Orsu Metals Corporation
Tel: +1-604-536-2711 ext 6