Deal sells 5 million units at C$0.20 each to Goldgroup Mining
By Toni Weeks
San Luis Obispo, Calif., Feb. 5 - Oroco Resource Corp. said it has completed its C$1 million non-brokered private placement of units. Goldgroup Mining Inc. was the investor.
The company sold 5 million units of one common share and one warrant at C$0.20 per unit.
Each whole warrant will be exercisable at C$0.25 for two years. The strike price is a 56.25% premium to C$0.16, the Feb. 4 closing share price.
Proceeds will be used for general working capital.
Vancouver, B.C.-based Oroco Resource explores for gold and silver.
| Issuer: | Oroco Resource Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 5 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Investor: | Goldgroup Mining Inc.
|
| Pricing date: | Jan. 28
|
| Settlement date: | Feb. 5
|
| Stock symbol: | TSX Venture: OCO
|
| Stock price: | C$0.16 at close Feb. 4
|
| Market capitalization: | C$11.67 million
|
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