08:05 AM EDT, 07/03/2025 (MT Newswires) -- Oroco Resource ( ORRCF ) , which lost more than 6% on Monday, announced on Tuesday a non-brokered private placement of up to 5 million units for gross proceeds of up to $1.5 million.

A statement noted the units will be at a price of $0.30 each. Each unit will be made up of one common share of the company and one three-year common share purchase warrant to buy one common share of the company at a price of $0.45.

The company said it plans to use the proceeds from the offering for the advancement of the Santo Tomas Project located in Sinaloa and Chihuahua States, Mexico as well as working capital and other general corporate purposes.

The closing of the offering is subject to receipt of all necessary regulatory approvals.