By Devika Patel
Knoxville, Tenn., March 22 - Orocan Resource Corp. said it plans a C$1 million non-brokered private placement of units.
The company will sell 4 million units at C$0.25 apiece. Each unit consists of one common share and one half-share warrant. Each whole two-year warrant will be exercisable at C$0.40.
Proceeds will be used for the company's planned qualifying transaction and for general working capital.
The capital pool company is based in Vancouver, B.C.
| Issuer: | Orocan Resource Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 4 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | March 22
|
| Stock symbol: | TSX Venture: OR.P
|
| Stock price: | C$0.30 at close March 22
|
| Market capitalization: | C$3.09 million
|
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