Oroya Mining Limited advised that it has agreed to an offer from CPS Capital Group Pty Ltd. to underwrite a placement of shares in the company (shares) to raise $505,420 before costs (CPS Offer). Subject to shareholder approval, the company proposes to consolidate its issued securities at
a ratio of 100:1 and make the placement under the CPS Offer on a post-consolidation basis. If completed, the CPS Offer will effectively recapitalise the company and enable it to pursue its exploration activities at the Orbost project in Victoria. The CPS Offer is conditional on the key terms (each of which may be amended or waived). In accordance with condition, Oroya confirmed that effective 24 October 2014 Mr. Tim Neesham and Mr. Tony Rechner were appointed as Directors and Mr. Ping Zhao resigned as a Director.