Oroco Resource (TSE:OCO) has released an update.
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Oroco Resource Corp. successfully completed a brokered private placement, raising $6.3 million by selling over 14 million units at $0.45 each, including shares and warrants. The funds are earmarked for the development of the Santo Tomás Project in Mexico and for general corporate purposes. The offering, which was facilitated by Red Cloud Securities Inc. and Canaccord Genuity Corp., also involved issuing broker and advisory warrants, with all securities subject to certain trading and holding period restrictions.
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