LONDON, UNITED KINGDOM--(Marketwired - April 21, 2015) - Orsu Metals Corporation ("Orsu" or the "Company"), the London-based dual listed (TSX:OSU)(AIM:OSU) base and precious metals exploration and development company, today announces that 9.75 million options to purchase common shares under the Company's Amended and Restated Stock Option Plan (the "Option Plan") have now expired. The options were granted in April 2010 at an exercise price of CAD$0.25, exercisable for a period of five years. Detail of all options held by Directors of the Company which have expired and the resultant number of options remaining after expiry is provided below.
| Name of Director |
Number of options expiring/cancelled |
Number of options after expiry |
| Dr Sergey V Kurzin |
2,500,000 |
Nil |
| Dr Alexander S Yakubchuk |
2,500,000 |
Nil |
| Mark Corra |
750,000 |
Nil |
| Massimo Carello |
750,000 |
30,000 |
| Tim Hanford |
750,000 |
Nil |
| David Rhodes |
Nil |
500,000 |
| Total |
7,250,000 |
530,000 |
The balance of the expired options comprises 2.5 million options issued to officers and employees of the Company and consultants. Following the expiration of the options discussed above, the Company has 1,360,000 options outstanding under its Option Plan, and 12,500,000 warrants to purchase common shares.
The expired options are available for re-issue under the Company's Option Plan, subject to total options outstanding not exceeding 10% of the number of common shares in issue with voting rights, which is 182,696,049 as at the date of this announcement.