Oroco Resource closes $23-million bought deal offering

Executive Summary

• Oroco Resource Corp. has closed an upsized bought deal public offering of 60,526,340 units at $0.38 per unit, generating approximately $23 million in aggregate gross proceeds, including the full exercise of the overallotment option.
• The offering was led by Canaccord Genuity Corp. and Red Cloud Securities Inc., with net proceeds designated for prefeasibility study drilling at the Santo Tomas copper project, baseline environmental/permitting work, and general corporate working capital.
• Each unit comprises one common share and one-half of one common share purchase warrant, exercisable at $0.53 per share until January 15, 2029.

Key Details

• Transaction Structure: Bought deal public offering of units.
• Units Sold: 60,526,340 units.
• Price Per Unit: C$0.38.
• Aggregate Gross Proceeds: Approximately C$23 million (including full exercise of overallotment option).
• Underwriters: Canaccord Genuity Corp. (Lead Underwriter and Sole Bookrunner) and Red Cloud Securities Inc.
• Unit Composition: Each unit consists of one common share and one-half of one common share purchase warrant.
• Warrant Terms:
  • Exercise Price: C$0.53 per share.
  • Expiration Date: January 15, 2029.
  • Trading: Expected to begin on TSX Venture Exchange under ticker OCO.WT and Cusip No. 687033134 on January 15, 2026.
  • Fractional Shares: No fractional shares issued; warrantholders rounded down to nearest whole number with no cash consideration for fractions.
• Underwriter Compensation:
  • Standard Cash Commission: 6.0% of aggregate gross proceeds.
  • Reduced Cash Commission: 3.0% for units sold to purchasers on a president's list provided by the company.
• Use of Proceeds:
  • Finance commencement of prefeasibility study drilling at the Santo Tomas copper project.
  • Advance baseline environmental and permitting work.
  • General corporate working capital.
• Regulatory Filings: Completed via prospectus supplement dated January 9, 2026, to the short form base shelf prospectus dated April 23, 2025. Offered in Canada (except Quebec), U.S. (Rule 144A and Regulation D), and offshore jurisdictions.

Notable Quotes

• No direct quotes from the CEO/President were included in the provided text.