Oroco Announces Increase in Private Placement

VANCOUVER, April 16, 2018 /CNW/ - Oroco Resource Corp. (TSXV: OCO) ("Oroco" or "the Company") is pleased to announce that, due to the private placement previously announced on April 11, 2018 (the "Private Placement") being oversubscribed, but not yet closed, it is increasing the Private Placement by an additional 1,500,000 units. The increased private placement will now comprise up to 9,000,000 units at a price of $0.10 per unit (one share and one half share purchase warrant per unit) to raise gross proceeds of up to $900,000.  Terms and conditions, and use of proceeds of the Private Placement remain as announced on April 11, 2018.

The Private Placement is subject to the acceptance of the TSX Venture Exchange.

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.

Cautionary Note Regarding Forward Looking Information

This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact included herein, including without limitation, statements relating to future events or achievements of the Company, are forward-looking statements. There can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated or implied in such statements. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these matters.  Oroco does not assume any obligation to update the forward-looking statements should they change, except as required by law.

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SOURCE Oroco Resource Corp.

View original content: http://www.newswire.ca/en/releases/archive/April2018/16/c7210.html