TSXV:NORA.H - Post by User
Post by
blowshighon Jun 12, 2008 5:30pm
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Post# 15179618
News PP closed today
News PP closed today
Perhaps now we get some more drill results in a couple of days
June 12, 2008
Orko Silver Closes $12.0 Million Bought Deal Private Placement
VANCOUVER, British Columbia - Orko Silver Corp. (TSX.V - OK) announces today the closing of its previously announced private placement which includes the full exercise of the Underwriters option. 7,320,000 common shares of the Company were placed at a price of $1.65 per share for aggregate gross proceeds of $12,078,000.
The shares were placed on a bought deal private placement basis by a syndicate of underwriters co-led by GMP Securities L.P. and BMO Capital Markets Inc., and including Haywood Securities Inc. and Macquarie Capital Markets Canada Ltd. (collectively the "Underwriters").
As partial consideration for their underwriting services, the syndicate of Underwriters was granted 439,200 Broker Warrants. Each Broker Warrant entitles the holder to acquire one common share at a price of $1.65 for a period of 2 years from the closing date.
The net proceeds of the private placement will be used for the continuing exploration program on Orko Silver's Mexican mining properties and for general corporate purposes including working capital.
All securities issued under the private placement are subject to a hold period expiring October 13, 2008.