Orsu Metals Corporation

AIM : OSU
TSX : OSU


Orsu Metals Corporation

February 03, 2014 06:36 ET

Orsu Metals Corporation: Update on Exclusivity Agreement for Potential Sale of Akdjol-Tokhtazan

LONDON, UNITED KINGDOM--(Marketwired - Feb. 3, 2014) - Pursuant to the announcement on January 10, 2014, Orsu Metals Corporation ("Orsu" or the "Company"), the dual listed (TSX:OSU)(AIM:OSU) London-based base and precious metals exploration and development company, today announces that it has not received the deposit of $500,000 from David-Invest LLP or its related company, David Way Limited (together the "Potential Buyers") and accordingly the Exclusivity Agreement has expired.

The Company is continuing talks with the Potential Buyers on a non-exclusive basis, and intends to open discussions with other parties who expressed an interest in the asset during the Exclusivity Agreement and will update the market on any outcome of these discussions at the appropriate time.

FORWARD-LOOKING INFORMATION

This press release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information contained or referred to in this press release includes, but may not be limited to, the potential sale of the Licences and the timing and terms thereof, as well as the Company's expectations relating to the use of any proceeds received from such sale.

Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the inability to maintain the Licences and any required permits, authorizations and/or approvals from the appropriate regulatory authorities, and other risks relating to the regulatory framework in Kyrgyzstan, adverse changes in the laws or political environment in Kyrgyzstan, adverse changes in commodities prices, as well as certain other risks set out in the Company's public documents, including its annual information form dated March 27, 2013, filed under the Company's profile on SEDAR at www.sedar.com.

The forward-looking information in this press release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this press release, the Company has made assumptions about: the Company's business, the economy and the mineral resources development and extraction industry in general; and the Company's ability to maintain the Licences. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.

Contact Information

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

    Canaccord Genuity Limited
    Neil Elliot
    +44 (0) 20 7523 8000

    Vanguard Shareholder Solutions
    +1 604 608 0824