Oroco Resource Corp.
TSX VENTURE : OCO

Oroco Resource Corp.

December 04, 2009 10:50 ET

Oroco Resource Corp. Announces Closing of Final Tranche of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 4, 2009) - Oroco Resource Corp. (TSX VENTURE:OCO) ("Oroco" or "the Company") is pleased to announce the closing of the second and final tranche of 1,279,500 units of a non-brokered private placement (the "Private Placement") at a price of $0.225 per unit. Each unit consists of one common share and one-half of one non-transferable common share purchase warrant. Each whole warrant is exercisable into one additional common share for a period of eighteen months at a price of $0.30 per share. All securities issued in this financing will be subject to a hold period which, for this tranche, will expire on April 3, 2010.

Together with subscriptions from the first tranche, the closing of which was previously announced on November 19, 2009, the total offering of 7,000,000 units is now complete, with gross proceeds of $1,575,000 raised for Oroco's Cerro Prieto Project in Sonora State, Mexico and general working capital purposes.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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