VANCOUVER, British Columbia – (December 4, 2009) Oroco Resource Corp. (TSX-V: OCO) (“Oroco” or “the Company”) is pleased to announce the closing of the second and final tranche of 1,279,500 units of a non-brokered private placement (the “Private Placement”) at a price of $0.225 per unit. Each unit consists of one common share and one-half of one non-transferable common share purchase warrant. Each whole warrant is exercisable into one additional common share for a period of eighteen months at a price of $0.30 per share. All securities issued in this financing will be subject to a hold period which, for this tranche, will expire on April 3, 2010.
Together with subscriptions from the first tranche, the closing of which was previously announced on November 19, 2009, the total offering of 7,000,000 units is now complete, with gross proceeds of $1,575,000 raised for Oroco’s Cerro Prieto Project in Sonora State, Mexico and general working capital purposes.
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.