Oroco Resource Corp V.OCO

Oroco arranges $2.5-million private placement

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Oroco Resource Corp
Symbol	C : OCO
Shares Issued	69,376,155
Close 2012-09-21	C$ 0.275
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Oroco arranges $2.5-million private placement

2012-09-21 19:28 ET - News Release

Mr. Craig Dalziel reports

OROCO ANNOUNCES PRIVATE PLACEMENT

Oroco Resource Corp. intends to complete a non-brokered private placement of up to 10 million units at a price of 25 cents per unit to raise gross proceeds of up to $2.5-million. Each unit will consist 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 40 cents 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 exploration at its Xochipala project in Guerrero state, Mexico; for continuing development of its Cerro Prieto project in Sonora state, Mexico; and for general working capital.

The company also has granted options to buy 250,000 shares to a consultant to the company at an exercise price of 27.5 cents per share. The grant of options is subject to the approval of the TSX Venture Exchange.

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