Oroco Resource Corp. (OCO.V) has announced a private placement to raise up to C$2.5M in a unit offering priced at C$0.40. Each unit will consist of one common share and a full warrant with an exercise price of C$0.65 for a period off eighteen months.
As indicated in a recent report, this cash infusion will mainly have to be used to solve the working capital deficit. Based on the most recent quarterly report, Oroco’s balance sheet had a working capital deficit of just over C$1M.
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