Orsu Metals Extends Stock Options

Rhea-AI Summary

Orsu Metals Corporation (TSXV:OSU) announced an extension of its incentive stock options granted on September 21, 2017. The Options, allowing the purchase of 2,845,000 common shares at C$0.13, will now expire on June 21, 2023, extending by nine months from the original date. This Extension is pending approval from the TSX Venture Exchange and shareholders at the upcoming meeting on August 26, 2022. Insider votes are excluded from the decision.

Positive

• Extension of stock options is a proactive measure to retain key personnel.
• The extension allows insiders more time to exercise options, potentially aligning interests with shareholders.

Negative

• Options are now set to expire later than previously planned, which may indicate a lack of immediate confidence in share performance.

VANCOUVER, BC / ACCESSWIRE / July 15, 2022 / Orsu Metals Corporation (TSXV:OSU) ("Orsu" or the "Company"). On September 21, 2017, the Board granted incentive stock options (the "Options") under the Company's 2017 Stock Option Incentive Plan (the "Plan") to purchase an aggregate 2,845,000 common shares in the capital of the Company (the "Option Shares") to directors, officers, employees and consultants (the "Optionees") exercisable for a period of five years expiring on September 21, 2022, at an exercise price of C$0.13 per common share. The Board of Directors approved an extension of the term of the Options by nine months to June 21, 2023 (the "Extension") with all other terms of the Options being unchanged. The Extension is subject to the approval of the TSX Venture Exchange and the shareholders of Orsu to be sought at the annual general and special meeting of shareholders called for August 26, 2022. The votes of any insiders holding Options will be excluded from the vote.

ON BEHALF OF THE BOARD

Sergei Stefanovich
Managing Director

For further information, please contact:
Doris Meyer, at 1-604-536-2711 ext 3 or email: doris@gocs.ca.

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

View source version on accesswire.com:
https://www.accesswire.com/708761/Orsu-Metals-Extends-Stock-Options

FAQ

What is the new expiration date for Orsu Metals' stock options?

The new expiration date for the stock options is June 21, 2023.

How many common shares can be purchased under the Orsu Metals stock options?

A total of 2,845,000 common shares can be purchased under the stock options.

What is the exercise price for the stock options of Orsu Metals?

The exercise price for the stock options is C$0.13 per common share.

When is the shareholders meeting regarding the extension of stock options?

The shareholders meeting is scheduled for August 26, 2022.

Are insider votes included in the decision for the extension of stock options?

No, the votes of any insiders holding options will be excluded from the vote.