Oroco Suspends Proposed Private Placement
VANCOUVER, British Columbia, Nov. 17, 2017 (GLOBE NEWSWIRE) -- Oroco Resource Corp. (“Oroco” or the “Company”) (TSX-V:OCO) (Frankfurt:OR6) announces that it will not proceed with the closing of the $600,000 private placement previously announced on October 12, 2017. The Company is suspending the private placement pending the intended acquisition of certain mineral concessions in Mexico.
“For reason that we have sufficient funds to meet our current operating needs, and that the proceeds of the proposed financing are to support certain intended acquisitions which are yet to close, we have chosen to postpone any private placement funding so as to give greater relevance to the timing and purpose of the contemplated financing," said Craig Dalziel, Oroco’s President and CEO.
For further information, please contact:
Mr. Craig Dalziel, President and CEO
Oroco Resource Corp.
Tel: 604-688-6200
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. .
Certain statements contained in this press release constitute forward-looking information within the meaning of applicable securities laws. These forward-looking statements relate to the Company’s intentions related to future acquisitions and financings. The Company believes that the expectations reflected in such forward looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. These statements speak onlyas of the date of this press release. Forward-looking information involves risks and uncertainties which may cause actual results to be materially different from those expressed or implied by such forward-looking information. The Company does not intend, and does not assume any obligation, to update any forward-looking information except as required by law.