OROCO RESOURCE CORP. ANNOUNCES CLOSING OF PRIVATE PLACEMENT
VANCOUVER, BRITISH COLUMBIA--(Marketwire – August 4, 2009) - Oroco Resource Corp. ("Oroco" or "the Company") is pleased to announce the closing of the second and final tranche of 700,000 units of a non-brokered private placement (the "Private Placement") at a price of $0.15 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 $0.25 per share. All securities issued in this financing will be subject to a hold period which for this tranche will expire on December 1, 2009.
Together with subscriptions from the first tranche, the closing of which was previously announced, the total offering of 6,500,000 units is now complete.
In connection with this tranche of the Private Placement, the Company is paying General Research GmbH 39,000 "Finders Units," wherein each Finders Unit is comprised of one common share of the Company and one warrant exercisable for one year at $0.40.
For further information, please contact:
Mr. Ken Thorsen, President and CEO
Oroco Resource Corp.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.