Oroco Resource Corp.

Oroco Resource Corp.

November 18, 2015 21:19 ET

Oroco Agrees to Extension of Closing Date

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 18, 2015) - Oroco Resource Corp. (TSX VENTURE:OCO) ("Oroco" or "the Company") announces that, further to its news release of September 28, 2015, it has agreed with Goldgroup Mining Inc. ("Goldgroup") to extend until January 16, 2016 the deadline for Goldgroup to enter into a formal debt repayment agreement with the Company. Goldgroup will pay US$25,000 to the Company in consideration for the extension. Remaining in place is the $100,000 break fee payable by Goldgroup if the formal debt payment agreement is not signed by the agreed deadline. In a related transaction, the Company will sell the 3 million shares of Goldgroup that it had agreed to sell to persons introduced by Goldgroup at a price of $0.06. After completion of the sale, the Company will hold 14,125,000 Goldgroup shares.

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.

Contact Information

  • Oroco Resource Corp.
    Mr. Craig Dalziel
    President and CEO