Orsu Metals Notice for Transfer from Tier 2 to NEX

Rhea-AI Summary

Orsu Metals Corporation (TSX-V: OSU) announced an update regarding its listing status on the TSX Venture Exchange. Following the sale of its sole mineral project, the Exchange determined that Orsu did not meet the continued listing requirements for a Tier 2 company. Consequently, the Company has been notified that its listing may be transferred to NEX effective March 20, 2023, unless it meets the necessary requirements by March 1, 2023. Attempts to explore potential acquisitions and an equity financing have not been successful, prompting this action.

Positive

• None.

Negative

• Transfer to NEX due to failure to meet Tier 2 continued listing requirements.
• Unsuccessful exploration of potential acquisitions.
• Failed equity financing efforts.

VANCOUVER, BC / ACCESSWIRE / March 16, 2023 / Orsu Metals Corporation (TSX-V:OSU) ("Orsu" or the "Company") provides a corporate update. On November 30, 2022, the Company reported that following the disposition of its sole mineral project (as announced on November 14, 2022) the TSX Venture Exchange (the "Exchange") determined that the Company did not meet the continued listing requirements for a Tier 2 listed company, and therefore the Company was on notice ending March 1, 2023 (the "Notice Period") from the Exchange that its listing may be transferred to NEX if the Company does not meet Tier 2 continued listing requirements prior to the expiry of the Notice Period.

NEX is a separate board of the Exchange, and it provides a trading platform for listed companies that have fallen below the Exchange's ongoing listing standards.

The Company's discussions and evaluation of a number of potential acquisitions combined with a concurrent equity financing with an aim to move the Company forward have not met with success. The Exchange will issue a bulletin to transfer the Company to NEX, effective, March 20, 2023.

ON BEHALF OF THE BOARD

Sergey Kurzin,

Interim Managing Director

For further information, please contact:

Sergey Kurzin, at 1-604-536-2711 or email: svkurzin@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/744222/Orsu-Metals-Notice-for-Transfer-from-Tier-2-to-NEX

FAQ

What is the current status of Orsu Metals Corporation's listing?

Orsu Metals Corporation is being transferred to NEX effective March 20, 2023, due to not meeting the Tier 2 listing requirements.

When will Orsu Metals be transferred to NEX?

The transfer to NEX will take effect on March 20, 2023.

What led to the transfer of Orsu Metals to NEX?

The transfer was due to the Company failing to meet the continued listing requirements after the disposition of its sole mineral project.

What efforts has Orsu Metals made to avoid being transferred to NEX?

The Company has attempted to evaluate potential acquisitions and secure equity financing, but these efforts have not been successful.