By Devika Patel
Knoxville, Tenn., Dec. 11 - Oro Silver Resources Ltd. said it has once more increased a non-brokered private placement of units to C$1.48 million from C$1.36 million. The deal priced for C$850,000 Nov. 30.
The company will now sell 8,683,823 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.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$1,476,250
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Units: | 8,683,823
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Price: | C$0.17
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Warrants: | One half-share warrant per unit
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Warrant expiration: | One year
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Warrant strike price: | C$0.25
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Agent: | Non-brokered
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Pricing date: | Nov. 30
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Upsized: | Dec. 4, Dec. 11
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Stock symbol: | TSX Venture: OSR
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Stock price: | C$0.17 at close Nov. 30
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Market capitalization: | C$7.57 million
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