Orsu Metals Share Consolidation Approved
White Rock, BC (FSCwire) - Orsu Metals Corporation (TSX-V: OSU) ("Orsu" or the "Company") is pleased to report that the TSX Venture Exchange has approved the consolidation (the "Share Consolidation") of its issued and outstanding common shares (the "Common Shares") on the basis of one new common share (a "Consolidated Common Share") for every ten currently-outstanding Common Shares ("Pre-Consolidated Common Shares"), which was approved by the Company's shareholders on July 31, 2017.
The Share Consolidation will take effect on September 15, 2017 with the Common Shares trading on a post-Consolidation basis beginning at the open of markets on September 15, 2017. At the date of this press release, there are 357,187,569 Pre-Consolidated Common Shares issued and outstanding. Assuming no other change in the issued capital of the Company, it is expected upon completion of the Share Consolidation, Orsu will have approximately 35,718,756 Consolidated Common Shares issued and outstanding, subject to rounding for any fractional shares as a result of the Share Consolidation. Orsu's name and trading symbol will not change as a result of the Share Consolidation. In addition, the exercise price and number of Common Shares of the Company issuable upon the exercise of outstanding options will be proportionally adjusted upon the implementation of the Share Consolidation in accordance with the terms thereof.
Registered shareholders must submit their respective share certificate(s) representing Pre-Consolidated Common Shares to the Company's transfer agent, Computershare Trust Company of Canada, 510 Burrard Street, Vancouver, BC V6C 3A8, to receive share certificates representing their post-Consolidated Common Shares. Until so surrendered, each share certificate representing Pre-Consolidated Common Shares will represent the number of whole Consolidated Common Shares to which the holder is entitled as a result of the Share Consolidation. Shareholders holding their Common Shares through a bank, broker or other nominee should note that banks, brokers or other nominees may have different procedures for processing the Share Consolidation than those put in place by the Company and Computershare Trust Company of Canada. Accordingly, shareholders who hold Common Shares with banks, brokers or other nominees and have questions in this regard are encouraged to contact such persons. Pre-Consolidated Common Shares held under DRS Advices will be automatically adjusted, in accordance with the ratio, to reflect the number of post-Consolidated Common Shares.
For further information, please contact:
Doris Meyer, Corporate Secretary, Orsu Metals Corporation
Tel: +1-604-536-2711 ext 6
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.
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Source: Orsu Metals Corporation (TSX Venture:OSU)
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