Oroco Resource Corp announced it has entered into an agreement in connection with a best efforts, private placement of 13,333,333 units at a price of CAD 0.45 per Unit for gross proceeds CAD 6,000,000 on May 16, 2024. Each Unit will consist of one common share of the Company and one half of one common share purchase warrant. Each Warrant shall entitle the holder to purchase one common share of the Company at a price of CAD 0.65 at any time on or before that date which is 24 months after the closing date of the Offering.

The Agents will have an option, exercisable in full or in part, up to 48 hours prior to the closing of the Offering, to sell up to an additional 2,222,222 Units for additional gross proceeds of up to CAD 1,000,000. The transaction is subject to compliance with applicable regulatory requirements. The Offering is scheduled to close on or around June 6, 2024 and is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the TSX Venture Exchange.