VANCOUVER, British Columbia, Oct. 12, 2017 (GLOBE NEWSWIRE) — Oroco Resource Corp. (TSX-V:OCO) (“Oroco” or “the Company”) is pleased to announce that it intends to complete a non-brokered private placement (the “Private Placement”) of up to 8,000,000 units at a price of $0.075 cents per unit to raise gross proceeds of up to $600,000. Each unit consists of one common share and one half of one common share purchase warrant. Each whole share purchase warrant will be exercisable into one additional common share for a period of 18 months at a price of $0.125 per share. The private placement is subject to the acceptance of the TSX Venture Exchange.
The proceeds of the private placement will be used for intended acquisitions of mineral properties in Mexico.