Oroco Announces Increase in Size of Private Placement
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/02/12 -- Oroco Resource Corp. (TSX VENTURE: OCO)(FRANKFURT: OR6) ('Oroco' or 'the Company') today announces an increase in the size of the private placement financing (the 'Financing') it previously announced by news release dated February 27, 2012.
The Company has increased the size of the financing from 4,000,000 units to 4,830,000 units at a price of $0.25 per unit for gross proceeds of $1,207,500. Unit terms remain the same.
The proceeds of the financing will be used for the continuing development of Oroco's Cerro Prieto Project in Sonora State, Mexico and for general working capital.
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.
Contacts:
Oroco Resource Corp.
Mr. Craig Dalziel
President and CEO
604-688-6200
604-688-6260 (FAX)
www.orocoresourcecorp.com