Orsu Metals Corporation

Orsu Metals Corporation

May 01, 2012 04:56 ET

Orsu Metals Corporation Announces Appointment of New Chief Financial Officer and Update of Current Fully Diluted Share Capital

LONDON, UNITED KINGDOM--(Marketwire - May 1, 2012) - Orsu Metals Corporation ("Orsu", or the "Company") (TSX:OSU)(AIM:OSU), the London-based precious and base metals development and exploration company, is pleased to announce that Mr Kevin Denham has been appointed as Chief Financial Officer of the Company effective 1 May 2012. Mr Denham replaces Mr Petro Mychalkiw who stepped down to pursue other business interests.

Mr Denham is a fellow of the Institute of Chartered Accountants in England and Wales ('FCA'), member of the Securities Institute ('MSI') and holds the Corporate Finance qualification of the Institute of Chartered Accountants in England and Wales ('CF'). Prior to joining Orsu, Mr Denham was a capital markets partner at Baker Tilly, Chartered Accountants, for whom he worked since 1997 (the last seven years as partner) specialising in transaction services for companies undertaking IPOs and other transactions by already listed companies.

The Company also announces that, following the expiration of 62.7 million share purchase warrants on April 16, 2012 the fully diluted share capital of the Company, as at the date of this press release, is 173.4 million shares, consisting of 157.7 million issued shares and 15.7 million share options.

Dr Sergey V Kurzin, Executive Chairman of Orsu, commented: "We are pleased that Mr Denham agreed to join Orsu. His excellent corporate finance experience will strengthen the Company's senior management team at the crucial stages of debt financing and construction of the Karchiga project in Kazakhstan. We thank Mr Mychalkiw for his past contributions and support."

Contact Information

  • Orsu Metals Corporation
    Dr Sergey V Kurzin
    +44 (0) 20 7518 3999

    Orsu Metals Corporation
    Dr Alexander Yakubchuk
    +44 (0) 20 7518 3999

    Orsu Metals Corporation
    Tania Tchedaeva
    Company Secretary
    +44 (0) 20 7518 3999

    Canaccord Genuity Limited
    Andrew Chubb
    +44 (0) 20 7523 8000

    Vanguard Shareholder Solutions
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