Non-brokered deal has units with half-share warrants at C$0.28 each
By Devika Patel
Knoxville, Tenn., July 22 - Oroco Resource Corp. said it plans a C$1.19 million non-brokered private placement of units.
The company will sell 4.25 million units of one common share and one half-share warrant at C$0.28 per unit.
Each whole warrant will be exercisable at C$0.42 for 15 months. The strike price is a 44.83% premium to C$0.29, the July 21 closing share price.
Proceeds will be used for development of Oroco's Cerro Prieto project and for general working capital.
Vancouver, B.C.-based Oroco Resource explores for gold and silver.
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$1.19 million
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Units: | 4.25 million
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Price: | C$0.28
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Warrants: | One half-share warrant per unit
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Warrant expiration: | 15 months
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Warrant strike price: | C$0.42
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Agent: | Non-brokered
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Pricing date: | July 22
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Stock symbol: | TSX Venture: OCO
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Stock price: | C$0.29 at close July 21
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Market capitalization: | C$17.32 million
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