Orsu Metals Corporation
TSX : OSU

Orsu Metals Corporation

June 23, 2016 14:34 ET

Orsu Metals Corporation: 2016 Annual and Special Meeting

LONDON, UNITED KINGDOM--(Marketwired - June 23, 2016) - The directors of Orsu Metals Corporation (TSX:OSU), the London-based base and precious metals exploration and development company, are pleased to announce that shareholders approved all resolutions at the annual meeting of shareholders held at 11 a.m. (London time) on June 23, 2016, including in particular the special resolution authorizing the sale of the Corporation's 94.75% interest in its Karchiga Project (the "Karchiga Disposition") which was passed by 99.88% of the votes cast.

The detailed results of the vote for the election of directors are set out below.

On a vote conducted by ballot, each of the five nominees proposed by management was elected as a director of the Corporation:

Nominee Votes
for
% of
votes cast
Votes
withheld
% of
votes cast
Dr. Sergey V. Kurzin 49,278,423 99.99 6,275 0.01
Dr. Alexander S. Yakubchuk 49,278,422 99.99 6,276 0.01
Mr. Mark Corra 43,228,697 87.71 6,056,001 12.29
Mr. Massimo Carello 43,230,297 87.72 6,054,401 12.28
Mr. David Rhodes 43,975,547 87.90 6,055,950 12.10

While shareholders of the Corporation have approved the Karchiga Disposition, the completion of the Karchiga Disposition remain subject to certain conditions precedent (including receipt of the necessary governmental approvals). Further information with respect to such conditions precedent and the Karchiga Disposition can be found in the Corporation's management information circulated, dated May 19, 2016, and the sale and purchase agreement, dated April 11, 2016 between, inter alia, the Corporation and Karasat Trading FZE, each of which are available under the Corporation's issuer profile on SEDAR at www.sedar.com.

Contact Information

  • Kevin Denham
    Chief Financial Officer and Company Secretary
    Orsu Metals Corporation
    +44 (0) 20 7518 3999
    www.orsumetals.com