By Devika Patel
Knoxville, Tenn., Dec. 4 - Oro Silver Resources Ltd. said it has increased a non-brokered private placement of units to C$1.36 million from C$850,000. The deal priced Nov. 30.
The company is selling 8 million units at C$0.17 apiece. Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.25 for one year.
Proceeds will be used for exploration and resource definition on the El Compas property in Zacatecas, Mexico, and for working capital and general corporate purposes.
Oro is a silver exploration company based in Vancouver, B.C.
| Issuer: | Oro Silver Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.36 million
|
| Units: | 8 million
|
| Price: | C$0.17
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 30
|
| Upsized: | Dec. 4
|
| Stock symbol: | TSX Venture: OSR
|
| Stock price: | C$0.17 at close Nov. 30
|
| Market capitalization: | C$7.57 million
|
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