OROCO ANNOUNCES UPSIZING OF PRIVATE PLACEMENT
25 Februar 2025 - 1:26AM
Oroco Resource Corp. (TSX-V: OCO, OTC: ORRCF) (“Oroco” or the
“Company”) is pleased to announce that, further to its news
release dated February 12, 2025, it has received $2,303,555.75 in
gross proceeds for its oversubscribed private placement of
9,214,223 units of the Company (the “
Units”) at a price of
$0.25 per Unit (the “
Offering”). Each Unit is comprised of
one common share in the capital of the Company (a “
Common
Share”) and one Common Share purchase warrant (a
“
Warrant”). Each Warrant entitles the holder to
purchase one Common Share at an exercise price of $0.40 for 24
months following the closing date of the Offering. The Offering is
subject to the approval of the TSX Venture Exchange.
The Company intends to use the proceeds from the
Offering for the advancement of the Santo Tomás Project located in
Sinaloa State, Mexico, as well as working capital, corporate
marketing and other general corporate purposes.
The Company may pay finders fees to certain
arm’s-length finders in connection with the Offering. All
securities issued pursuant to the Offering will be subject to a
4-month hold period in accordance with applicable securities
laws.
The securities offered have not, nor will they
be registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold within the United States or
to, or for the account or benefit of, U.S. persons in the absence
of U.S. registration or an applicable exemption from the U.S.
registration requirements. This release does not constitute an
offer for sale of securities in the United States.
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, totaling 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, ChairmanOroco Resource Corp. Tel:
604-688-6200 Email:
info@orocoresourcecorp.com www.orocoresourcecorp.com
Neither TSXV nor its Regulation Services
Provider (as that term is defined in policies of the TSXV) accepts
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, and the use of funds from the
Offering, are forward-looking statements. There is no assurance
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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