Oroco Resource closes $500,000 (U.S.) final tranche

Executive Summary

• Oroco Resource Corp. has closed the second tranche of its non-brokered private placement, raising $500,000 USD in gross proceeds.
• The financing is intended to fund the phase 2 drill program at the Santo Tomas project, scheduled to commence in early 2026, and advance the project toward a prefeasibility study.
• This tranche brings the total aggregate units issued to 10,154,995 units with total gross proceeds of $2,030,999 USD.

Key Details

• Transaction Structure: Non-brokered private placement.
• Tranche 2 Details:
  • Units Issued: 2,500,000 units.
  • Price: 20 U.S. cents per unit.
  • Gross Proceeds: $500,000.00 USD.
  • Composition: Each unit consists of one common share and one-half common share purchase warrant.
  • Warrant Terms: Each whole warrant entitles the holder to purchase one share for 30 U.S. cents for a period of 24 months from closing.
• Aggregate Transaction (Tranche 1 + Tranche 2):
  • Total Units Issued: 10,154,995 units.
  • Total Gross Proceeds: $2,030,999 USD.
• Use of Proceeds: Advancing the Santo Tomas project toward its planned prefeasibility study and for general corporate purposes.
• Regulatory & Legal:
  • Closing carried out pursuant to prospectus exemptions of applicable securities law.
  • Subject to final acceptance by the TSX Venture Exchange.
  • Hold Period: Shares and warrant exercise shares are subject to a hold period expiring on March 14, 2026.
• Strategic Context: Chairman Craig Dalziel noted this is the first step in an overall funding initiative to support the phase 2 drill program at Santo Tomas in early 2026, involving local Mexican investors.

Notable Quotes

• "It is important for Oroco supporters to understand that this financing is only the first step in an overall funding initiative intended to support the commencement of the phase 2 drill program at Santo Tomas in early 2026. This funding stage was intentionally limited to a handful of local Mexican investors who the company sees as integral to the project's advancement. We sincerely appreciate the local interest that their investment represents." — Craig Dalziel, Chairman