Orsu Metals Announces Termination of Letter of Intent

VANCOUVER, BC /ACCESSWIRE/October 14, 2022/ Orsu Metals Corporation (TSXV:OSU) (“Orsu” or the “Company”) entered into a non-binding letter of intent (the “Letter of Intent“) with Invenir Ltd. and Skyfire Ltd. (collectively, the “target companies”) regarding a business combination that would result in a reverse takeover and change of business of Orsu (the “Proposed transaction“), as announced in the Company’s press release dated May 24, 2022. Pursuant to the letter of intent, the proposed transaction was expected to close by September 30, 2022 (the “Out of date“). Since the proposed transaction has not been completed by the deadline, the target companies have terminated the letter of intent effective today.

Orsu has applied for reinstatement of the Company’s common shares for trading on the TSX Venture Exchange.

ON BEHALF OF COUNCIL

Sergei Stefanovich
General director

For more information, please contact:
Doris Meyer, at 1-604-536-2711 ext. 3 or by email: [email protected].

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.

Forward-looking information:

This press release may contain “forward-looking information” (as that term is defined under Canadian securities laws) regarding the business of the Company. Forward-looking information in this press release includes, but is not limited to, statements regarding the expected resumption of trading of the Company’s common shares on the TSX Venture Exchange. Although the Company believes that such expectations and assumptions are reasonable, investors should not place undue reliance on such forward-looking information as the Company cannot guarantee that it will prove to be accurate. The forward-looking statements contained in this press release are subject to a number of risks and uncertainties. Actual results may differ materially from the results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include the fact that the TSX Venture Exchange will retain its discretion regarding the resumption of trading of the Company’s common shares on the TSX Venture Exchange. Accordingly, actual events may differ materially from those projected in the forward-looking statements. The forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intention or obligation to publicly update any forward-looking information (whether as a result of new information, future events or results, or otherwise) other than as required by applicable securities laws. .

THE SOURCE: Orsu Metals Corporation

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