Non-brokered deal offers units with half-share warrants at C$0.25 each
By Devika Patel
Knoxville, Tenn., Sept. 21 - Oroco Resource Corp. said it has arranged a C$2.5 million non-brokered private placement of units.
The company will sell 10 million units of one common share and one half-share warrant at C$0.25 per unit.
Each whole warrant will be exercisable at C$0.40 for 18 months. The strike price is a 48.15% premium to C$0.27, the Sept. 20 closing share price.
Proceeds will be used for exploration at Oroco's Xochipala Project, for development of its 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$2.5 million
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Units: | 10 million
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Price: | C$0.25
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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$0.40
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Agent: | Non-brokered
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Pricing date: | Sept. 21
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Stock symbol: | TSX Venture: OCO
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Stock price: | C$0.27 at close Sept. 20
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Market capitalization: | C$19.08 million
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