Non-brokered deal offers units with half-share warrants at C$0.30 each
By Devika Patel
Knoxville, Tenn., March 1 - Oroco Resource Corp. said it plans a private placement of units. The C$1.06 million deal will be non-brokered.
The company will sell 3,541,334 units of one common share and one half-share warrant at C$0.30 per unit.
Each whole warrant will be exercisable at C$0.45 for 18 months. The strike price is a 7.14% premium to C$0.42, the Feb. 28 closing share price.
Proceeds will be used to further the company's exploration projects, fund possible new acquisitions and for general working capital.
Vancouver, B.C.-based Oroco Resource explores mineral properties in Mexico.
Issuer: | Oroco Resource Corp.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$1,062,400
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Units: | 3,541,334
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Price: | C$0.30
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Warrants: | One half-share warrant per unit
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Warrant expiration: | 18 months
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Warrant strike price: | C$0.45
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Agent: | Non-brokered
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Pricing date: | March 1
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Stock symbol: | TSX Venture: OCO
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Stock price: | C$0.40 at close March 1
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Market capitalization: | C$17.89 million
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