Oroco Receives Cash Payout From Goldgroup Mining Inc.

http://www.juniorminingnetwork.com/junior-miner-news/press-releases/1560-tsx-venture/oco/24906-oroco-receives-cash-payout-from-goldgroup-mining-inc.html

VANCOUVER, BC–(Marketwired – September 23, 2016) – Oroco Resource Corp. (TSX VENTURE:OCO) (FRANKFURT: OR6) (“Oroco” or “the Company“) announces that it has received US$811,690 from Goldgroup Mining Inc. (“Goldgroup“) in settlement of the outstanding balance of all debts due from Goldgroup, being the remaining principal and accrued interest from (a) the US$1,500,000 promissory note, as amended (the “Note“), issued to the Company by Goldgroup pursuant to the terms of the Cerro Prieto property sale (see the Company’s news release dated September 3, 2013); (b) the Value Added Tax refund due to Oroco pursuant to a debt assignment agreement (see the Company’s news release dated September 22, 2014); and (c) a break fee payable to Oroco pursuant to an agreement with Goldgroup dated September 28, 2015 (see the Company’s news release dated September 28, 2015).

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