Orsu Metals Issues Shares for Services

Rhea-AI Summary

Orsu Metals Corporation has issued 559,908 shares for services, adjusting from a previously announced 675,292 shares. As of December 31, 2021, the total accrual amounts to the Canadian equivalent of $145,576, fully settled by the issued shares priced at $0.26, the closing share price on that date. The shares are subject to a four-month and a day hold period following issuance.

Positive

• Issuance of 559,908 shares for services, indicating active business operations.
• Full settlement of $145,576 through share issuance may preserve cash reserves.

Negative

• Adjustment from 675,292 to 559,908 shares may indicate lower demand for services.
• Share issuance dilutes existing shareholders' equity.

VANCOUVER, BC / ACCESSWIRE / January 7, 2022 / Orsu Metals Corporation (TSXV:OSU) ("Orsu" or the "Company") has issued a total of 559,908 shares for services (amended from 675,292 as previously announced).

To December 31, 2021, there is a total accrual of the Canadian equivalent of $145,576 which has been settled in full by the issuance of a total of 559,908 shares of the Company priced at $0.26, being the closing share price on December 31, 2021.

The common shares are subject to a four-month and a day hold period from the date of issue.

ENDS

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

View source version on accesswire.com:
https://www.accesswire.com/681468/Orsu-Metals-Issues-Shares-for-Services

FAQ

What is Orsu Metals Corporation's recent share issuance and its impact on stock ORSUF?

Orsu Metals Corporation issued 559,908 shares for services, adjusting from a previous announcement of 675,292 shares. This issuance fully settled an accrual of $145,576.

At what price were shares issued by Orsu Metals Corporation?

The shares were issued at a price of $0.26, which was the closing share price on December 31, 2021.

What are the hold restrictions on the newly issued shares of Orsu Metals Corporation?

The newly issued shares are subject to a four-month and a day hold period from the date of issue.

How many shares did Orsu Metals Corporation originally plan to issue before the adjustment?

Orsu Metals Corporation originally announced the issuance of 675,292 shares before adjusting the number to 559,908.