Orocan Resource Corp.

Orocan Resource Corp.

December 12, 2007 12:55 ET

Orocan Resource Corp. Completes Initial Public Offering

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 12, 2007) - Orocan Resource Corp. (the "Company") (TSX VENTURE:OR.P) is pleased to announce that it has completed its initial public offering of 3,315,000 common shares at a price of $0.10 per share, for aggregate gross proceeds of $3,150,000. Haywood Securities Inc. acted as the agent for the offering and received a cash commission of 7.5% of the gross proceeds as well as a non-transferable option to purchase up to 331,500 common shares at a price of $0.10 for 24 months from the date that common shares of the Company are listed on the TSX Venture Exchange (the" Exchange") The Company also granted to its directors and officers, options to acquire 1,031,500 common shares at a price of $0.10 per share, for a period of 5 years from the date the Company's shares are listed on the Exchange. The Company will commence trading on the Exchange as a capital pool company on December 17, 2007 under the symbol OR.P. The Company will use the net proceeds of the offering to identify and evaluate potential qualifying transactions.

The board of directors of the Company consists of Alan Hitchborn, Christopher Bogart and Michael Philpot. Patrick Downey serves as a technical consultant to the Company.


Chris Bogart, Director

The foregoing information may contain forward-looking statements relating to the future performance of Orocan Resource Corp. Forward-looking statements, specifically those concerned with future performance are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in Orocan Resource Corp.'s filings with the appropriate securities commissions.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Orocan Resource Corp.
    Chris Bogart
    (604) 683-2505
    (604) 683-2506 (FAX)