VANCOUVER, BC / ACCESSWIRE / January 7, 2021 / Orsu Metals Corporation (TSXV:OSU) ("Orsu" or the "Company") plans to issue 571,531 shares for services.
In 2017, the Company 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, 2020, there is a total accrual of the Canadian equivalent of $174,317 which will be settled in full by the issue of a total of 571,531 shares of the Company priced at $0.305, being the closing share price on December 31, 2020.
Subject to the approval of the Exchange, all shares issued will be subject to a four-month hold period from the date of issue.
ENDS
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For further information, please contact:
Sergei Stefanovich, Managing Director of Orsu Metals Corporation
Doris Meyer, Corporate Secretary, Orsu Metals Corporation
email: ir@orsumetals.com
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.
SOURCE: Orsu Metals Corporation
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https://www.accesswire.com/623514/Orsu-Metals-to-Issue-Shares-for-Services
