LONDON, UNITED KINGDOM -- (Marketwired) -- 04/21/15 -- Orsu Metals Corporation ("Orsu" or the "Company"), the London-based dual listed (TSX: OSU)(AIM: OSU) base and precious metals exploration and development company, today announces that 9.75 million options to purchase common shares under the Company's Amended and Restated Stock Option Plan (the "Option Plan") have now expired. The options were granted in April 2010 at an exercise price of CAD$0.25, exercisable for a period of five years. Detail of all options held by Directors of the Company which have expired and the resultant number of options remaining after expiry is provided below.
Number of options Number of options Name of Director expiring/cancelled after expiry Dr Sergey V Kurzin 2,500,000 Nil Dr Alexander S Yakubchuk 2,500,000 Nil Mark Corra 750,000 Nil Massimo Carello 750,000 30,000 Tim Hanford 750,000 Nil David Rhodes Nil 500,000 Total 7,250,000 530,000
The balance of the expired options comprises 2.5 million options issued to officers and employees of the Company and consultants. Following the expiration of the options discussed above, the Company has 1,360,000 options outstanding under its Option Plan, and 12,500,000 warrants to purchase common shares.
The expired options are available for re-issue under the Company's Option Plan, subject to total options outstanding not exceeding 10% of the number of common shares in issue with voting rights, which is 182,696,049 as at the date of this announcement.
Contacts:
Orsu Metals Corporation
Kevin Denham
Chief Financial Officer and Company Secretary
+44 (0) 20 7518 3999
www.orsumetals.com
Canaccord Genuity Limited
Ryan Gaffney or Henry Fitzgerald O'Connor
+44 (0) 20 7523 8000
Vanguard Shareholder Solutions
+1 604 608 0824
