Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit Completed
Orsu Metals Corporation is a mineral exploration and development company. In two years after acquisition of the project in December 2017 Orsu Metals has built an Inferred resource of 30 million tons of ore at 1.45 g/t of gold for a total of 1.42 million ounces of gold.
Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit CompletedThe Sergeevskoe gold project is located in the Transbaikal’skiy Region of the Russian Federation and is the focus of Orsu’s activities.
Orsu Metals entered into a share purchase agreement (the "SPA") providing for the sale (the "Disposition") of Orsu's 90% interest (the "Majority Interest") in the Sergeevskoe gold project (the "Russian Assets") to the holders of the other 10% interest in the Russian Assets. The Company sought and received shareholder approval by way of a consent resolution to waive the closing of the Proposed Transaction as a condition precedent to closing the sale of its 90% interest in the Sergeevskoe gold project, located in Russia, to the holders of the remaining 10% interest in the project pursuant to a share purchase agreement as previously approved by the Orsu shareholders on August 26, 2022. The disposition of the Majority Interest has now closed, and the Company so that the Company has now completed its exit from Russia.