Oro Mining Ltd: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
Oro Gold Resources Completes Brokered Private Placement
Oro Gold Resources announced that it has closed its private placement financing previously announced on February 2, 2012 and February 15, 2012. The Company issued 71,837,000 units for aggregate gross proceeds of $7,902,070. Each unit, priced at $0.11, consists of one common share and one-half of one non-transferable common share purchase warrant; each whole warrant entitles the holder to purchase one additional common share of the Company at an exercise price of $0.20 until February 17, 2014. The Company intends to use the net proceeds of the offering to advance its Trinidad property by completing engineering, permitting and initial infrastructure upgrades to maintain the previously reported timeline towards Taunus production and for working capital and general corporate purposes. Casimir Capital L.P. and Casimir Capital Ltd. acted as agents in the Private Placement (collectively Agent). The Company paid a cash commission to the Agent of $450,000; and issued to the Agent non-transferable broker warrants equivalent to 5% of 71,837,000 units, each exercisable to acquire one common share of the Company at a price of $0.20 until February 17, 2014. The common shares issued pursuant to the Private Placement and the common shares issuable upon the exercise of the warrants are subject to a statutory hold period which expires June 18, 2012.
Latest Developments for Marlin Gold Mining Ltd
Latest Key Developments in Precious
- Share this
- Digg this