Oroco closes on 89% of Financing $870,000

Written by on July 23rd, 2009

Oroco Resource Corp (C:OCO)

Shares Issued 27,593,521 Last Close 7/22/2009 $0.16 Thursday July 23 2009 – News Release

Mr. Ken Thorsen president reports

OROCO RESOURCE CORP. ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Oroco Resource Corp. has closed the first tranche of 5,800,000 units of a non-brokered private placement at a price of 15 cents per unit. Each unit consists of one common share and one transferable common share purchase warrant exercisable into one additional common share for a period of nine months at a price of 25 cents per share. All securities issued in this financing will be subject to a hold period which for this tranche will expire on Nov. 17, 2009.

The company has determined that it will limit the total offering to 6.5 million units and intends to close on the remaining 700,000 units, for which subscription agreements have been executed, upon receipt of final funds. For full release please visit the companies website

www.OrocoResourceCorp.com

 

Comments are closed.