By Devika Patel
Knoxville, Tenn., June 10 - Oro Gold Resources Ltd. said it will raise C$1.93 million in a non-brokered private placement of units.
The company will sell 3.5 million units at C$0.55 per unit. Each unit consists of one common share and one half-share warrant. Each whole two-year warrant will be exercisable at C$0.75 for the first year and at C$1.00 thereafter.
Proceeds will be used to further define and expand the gold resource at Oro's Trinidad property in Sinaloa, Mexico, and for other corporate purposes and general working capital.
Vancouver, B.C.-based Oro is a gold exploration company with 13 projects in Mexico and Panama.
| Issuer: | Oro Gold Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1,925,000
|
| Units: | 3.5 million
|
| Price: | C$0.55
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75 for the first year, C$1.00 thereafter
|
| Agent: | Non-brokered
|
| Pricing date: | June 10
|
| Stock symbol: | TSX Venture: OGR
|
| Stock price: | C$0.59 at close June 9
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
