VANCOUVER, British Columbia – (November 8, 2011) 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 4,000,000 units at a price of $0.25 cents per unit to raise gross proceeds of up to $1,000,000. 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 $0.40 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 the continuing development of Oroco’s Cerro Prieto Project in Sonora State, Mexico and for general working capital.
Oroco is a Canadian-based mineral exploration company with its primary focus on the development of the gold-bearing oxide zones of its Cerro Prieto Project in northern Sonora State, Mexico.
For further information, please contact:
Mr. Craig Dalziel, 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.