By Devika Patel
Knoxville, Tenn., June 18 - Oroco Resource Corp. said it plans a non-brokered private placement of units for C$1.2 million. The deal priced on May 25.
The company will sell 8 million units at C$0.15 per unit. Each unit consists of one common share and one warrant. Each warrant will be exercisable at C$0.25 for nine months. The warrants originally were going to be exercisable at C$0.35 for one year.
Proceeds will be used for drilling and general working capital.
Vancouver, B.C.-based Oroco Resource explores mineral properties in Mexico.
| Issuer: | Oroco Resource Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.2 million
|
| Units: | 8 million
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Nine months
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | May 25
|
| Amended: | June 17
|
| Stock symbol: | TSX Venture: OCO
|
| Stock price: | C$0.17 at close May 25
|
| Market capitalization: | C$4.69 million
|
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