01:10 PM EST, 01/27/2025 (MT Newswires) -- Oroco Resource ( ORRCF ) , down 6% Monday, announced a non-brokered private placement up to five million units of the company at $0.30 each per unit, for up to C$1.5 million.

Each unit will consist of one common share of the company and one half of one common share purchase warrant. Each warrant entitles the holder to purchase one common share of the company for $0.45 at any time on or before that date which is 24 months after the issue date of the unit.

The company intends to use the proceeds from the offering for the advancement of the Santo Tomas Project located in northwestern Mexico as well as working capital and other general corporate purposes.

Price: 0.31, Change: -0.02, Percent Change: -6.06