VANCOUVER, British Columbia – (March 17, 2023), March 17, 2023 (GLOBE NEWSWIRE) -- March 17, 2023 NEWS RELEASE
OROCO CLOSES NON-BROKERED PRIVATE PLACEMENT
VANCOUVER, British Columbia – (March 17, 2023) Oroco Resource Corp. (TSX-V: OCO, OTC: ORRCF) ("Oroco" or "the Company") is pleased to announce that it has closed a non-brokered private placement (the "Private Placement") raising gross proceeds of $4,758,727.55 through the sale of a total of 6,344,970 units at a price of $0.75 per unit. Each unit consists of one share and one-half of one share purchase warrant. Each whole share purchase warrant entitles the holder to purchase one share for a period of 24 months from closing at a price of $1.05 per share.
The shares and any shares issued pursuant to the exercise of the warrants are subject to a hold period expiring July 18, 2023.
ATM Mining Corp. (ATM"), a company controlled by Craig Dalziel, Executive Chairman of the Company, participated in the Private Placement, purchasing 200,000 units. ATM's participation in the Private Placement is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 as the fair market value of it's participation is less than 25% of the market capitalization of the Company.
The Company paid a total of: (i) $78,500 cash; (ii) 60,000 common shares: (iii) 10,000 share purchase warrants which entitle the holder to purchase one share for two years at a price of $0.75; and (iv) 50,000 share purchase warrants which entitle the holder to purchase one share for two years at a price of $1.05 per share, in finder's fees to RFC Ambrian Limited and Vertigo Partners Ltd. in connection with the Private Placement.
The proceeds of the financing will be used for exploration and development activities, working capital and corporate overhead.
ABOUT OROCO:
The Company holds a net 85.5% interest in the collective 1,172.9 ha Core Concessions of the Santo Tomas Project in NW Mexico. The Company also holds an 80% interest in 8,154.3 ha of mineral concessions surrounding and adjacent to the Core Concessions (for a total project area of 23,048 acres). The Project is situated within the Santo Tomas District, which extends from Santo Tomas up to the Jinchuan Group's Bahuerachi project, approximately 14 km to the northeast. Santo Tomas hosts a significant copper porphyry deposit defined by prior exploration spanning the period from 1968 to 1994. During that time, the property was tested by over 100 diamond and reverse circulation drill holes, totalling approximately 30,000 meters. Based on data generated by these drill programs, a historical Prefeasibility Study was completed by Bateman Engineering Inc. in 1994. The Company is nearing the completion of its 2021-2023 drill program at Santo Tomas with a total of approximately 49,000 meters drilled in 76 diamond drill holes.
The Santo Tomas Project is located within 160 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 by a 32 km access road originally built to service Goldcorp's El Sauzal Mine in Chihuahua State.
For further information, please contact:
Richard Lock, CEO
Oroco Resource Corp.
Tel: 604-688-6200
Email: info@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, are forward-looking statements. There can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated or implied in such statements. 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.
CONTACT: Christy Fabros Oroco Resource Corp. (604) 358-9386 cfabros@orocoresourcecorp.com
温哥华,不列颠哥伦比亚省-(2023年3月17日),2023年3月17日(环球通讯社)--3月17日,2023年新闻发布
Oroco完成非经纪私募
温哥华,不列颠哥伦比亚省-(2023年3月17日)Oroco资源公司(多伦多证券交易所股票代码:OCO,场外交易代码:ORRCF)欣然宣布已完成一项非经纪私募(“私募“)以每单位0.75元的价格出售合共6,344,970股单位,集资总额为4,758,727.55元。每个单位由一股和一份认购权证的一半组成。每一份完整的认购权证赋予持有人以每股1.05元的价格在24个月内购买一股的权利。
根据认股权证的行使而发行的股份和任何股份的持有期将于2023年7月18日到期。
由公司执行主席克雷格·达尔齐尔控制的ATM矿业公司(ATM)参与了此次定向增发,购买了20万股。ATM参与定向增发不受多边文件61-101的估值和小股东批准的要求,因为其参与的公平市场价值低于公司市值的25%。
公司总共支付了:(I)78,500美元现金;(Ii)60,000股普通股:(3)10,000股认购权证,使持有人有权以0.75美元的价格购买一股,为期两年;及(4)50,000股认购权证,使持有人有权以每股1.05美元的价格购买一股,为期两年,作为与私募配售有关的RFC Ambrian Limited和Vertigo Partners Ltd。
融资所得将用于勘探和开发活动、营运资金和公司管理费用。
关于Oroco:
本公司净持有墨西哥西北部Santo Tomas项目1,172.9公顷核心特许权的85.5%权益。本公司亦持有核心特许权周围及毗邻的8,154.3公顷矿产特许权的80%权益(项目总面积为23,048英亩)。该项目位于圣托马斯区内,从圣托马斯区一直延伸到金川集团的Bahuerachi项目,向东北方向大约14公里。圣托马斯拥有一个重要的铜斑岩矿床,这是从1968年到1994年期间的先前勘探确定的。在此期间,对该财产进行了100多个钻石钻孔和反循环钻孔测试,总共约30,000米。基于这些钻探计划产生的数据,贝特曼工程公司于1994年完成了一项历史预可行性研究。该公司在圣托马斯的2021-2023年钻井计划即将完成,在76个钻石钻孔中总共钻出了约49,000米。
圣托马斯项目位于托波罗班波太平洋深水港160公里范围内,通过骇维金属加工和近端铁路(以及干线电网、输电线和天然气的平行走廊)通过洛斯莫奇斯市至北部城市乔伊市提供服务。该地产由一条32公里长的通道到达,该通道最初是为了服务于Goldcorp位于奇瓦瓦州的El Sauzal矿而修建的。
如需更多信息,请联系:
理查德·洛克,首席执行官
奥罗科资源公司
电话:604-688-6200
电子邮件:info@orocoresource cecorp.com
多伦多证券交易所风险交易所及其监管服务提供商(该术语在多伦多证券交易所的政策中定义)均不对本新闻稿的充分性或准确性承担责任。
关于前瞻性信息的注意事项
本新闻稿包括适用于加拿大证券法的某些“前瞻性信息”和“前瞻性声明”(统称为“前瞻性声明”)。除本文中包含的历史事实陈述外,所有陈述,包括但不限于与公司未来事件或成就有关的陈述,均为前瞻性陈述。不能保证这样的前瞻性陈述将被证明是准确的,实际结果和未来事件可能与此类陈述中预期或暗示的大不相同。许多已知和未知的因素可能导致实际结果、业绩或成就与此类前瞻性陈述明示或暗示的结果、业绩或成就大相径庭。读者不应过分依赖本新闻稿中有关这些事项的前瞻性陈述和信息。除非法律要求,否则Oroco不承担任何义务在前瞻性陈述发生变化时对其进行更新。
联系人:克里斯蒂·法布罗斯·奥罗科资源公司电话:(604)358-9386