By Devika Patel
Knoxville, Tenn., Nov. 16 - Oroco Resource Corp. said it plans a non-brokered private placement of units for C$1.35 million.
The company will sell 6 million units at C$0.225 per unit. Each unit consists of one common share and one half-share warrant. Each whole warrant will be exercisable at C$0.30 for 18 months.
Proceeds will be used for development and general working capital.
Vancouver, B.C.-based Oroco Resource explores mineral properties in Mexico.
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$1.35 million
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Units: | 6 million
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Price: | C$0.225
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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$0.30
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Agent: | Non-brokered
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Pricing date: | Nov. 16
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Stock symbol: | TSX Venture: OCO
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Stock price: | C$0.21 at close Nov. 13
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Market capitalization: | C$6.63 million
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