OROCO PRIVATE PLACEMENT OVERSUBSCRIBED
12 Februar 2025 - 10:16AM
Oroco Resource Corp.
(TSX-V: OCO, OTC: ORRCF) (“Oroco” or the
“Company”) is pleased to announce that the non-brokered private
placement financing (the “
Offering”) announced by the
Company on February 5, 2025, is now oversubscribed due to strong
investor demand. As a result, the Company is no longer
accepting new subscriptions and now intends to close the Offering,
subject to the receipt of all necessary regulatory approvals,
including the approval of the TSX Venture Exchange.
ABOUT OROCO
The Company holds a net 85.5% interest in those
central concessions that comprise 1,173 hectares “the Core
Concessions” of The Santo Tomas Project, located in northwestern
Mexico. The Company also holds an 80% interest in an additional
7,861 hectares of mineral concessions surrounding and adjacent to
the Core Concessions (for a total Project area of 9,034 hectares,
or 22,324 acres). The Project is situated within the Santo Tomas
District, which extends up to the Jinchuan Group’s Bahuerachi
Project, approximately 14 km to the northeast. The Project hosts
significant copper porphyry mineralization initially defined by
prior exploration spanning the period from 1968 to 1994. During
that time, the Project area was tested by over 100 diamond and
reverse circulation drill holes, totalling approximately 30,000
meters. Commencing in 2021, Oroco conducted a drill program (Phase
1) at Santo Tomas, with a resulting total of 48,481 meters drilled
in 76 diamond drill holes.
The drilling and subsequent resource estimates
and engineering studies led to a revised MRE and an updated PEA
being published and filed in August of 2024, which studies are
available at the Company’s website www.orocoresourcecorp.com and by
reviewing the Company profile on SEDAR at www.sedarplus.ca..
The Santo Tomas Project is located within 170 km
of the Pacific deep-water port at Topolobampo and is serviced via
highway and proximal rail (and parallel corridors of trunk grid
power lines and natural gas) through the city of Los Mochis to the
northern city of Choix. The property is reached, in part, by a 32
km access road originally built to service Goldcorp’s El Sauzal
Mine in Chihuahua State.
Additional information about Oroco can be found
on its website and by reviewing its profile on SEDAR at
www.sedarplus.ca.
For more information, please contact:
Craig Dalziel, Chairman Oroco Resource
Corp. Tel: 604-688-6200 Email:
info@orocoresourcecorp.com www.orocoresourcecorp.com
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accept responsibility for the
adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking
Information
This news release includes certain
“forward-looking information” and “forward-looking statements”
(collectively “forward-looking statements”) within the meaning of
applicable Canadian securities legislation. All statements,
other than statements of historical fact included herein,
including, without limitation, statements relating to future events
or achievements of the Company, the timing of closing of the
Offering, proceeds received and use of funds of the Offering, are
forward-looking statements. There is no assurance that (i)
the Company will be able to complete the Offering on the terms set
out above, or at all, or (ii) that the proceeds of the Offering
will be expended as contemplated. Many factors, both known and
unknown, could cause actual results, performance or achievements to
be materially different from the results, performance or
achievements that are or may be expressed or implied by such
forward-looking statements. Readers should not place undue
reliance on the forward-looking statements and information
contained in this news release concerning these matters.
Oroco does not assume any obligation to update the forward-looking
statements should they change, except as required by law.
Christy Fabros
Oroco Resource Corp.
(604) 688-6200
info@orocoresourcecorp.com
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