By Devika Patel
Knoxville, Tenn., Nov. 26 - Oro Silver Resources Ltd. said it plans a C$2.97 million non-brokered private placement of units.
The company will sell 3.3 million units at C$0.90 apiece. Each unit will consist of one common share and one half-share warrant, with each whole two-year warrant exercisable at C$1.25 for the first year and C$1.50 thereafter.
Proceeds will be used for property acquisitions, exploration and general corporate purposes.
Oro is a silver exploration company based in Vancouver, B.C.
| Issuer: | Oro Silver Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2.97 million
|
| Units: | 3.3 million
|
| Price: | C$0.90
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.25 for the first year and C$1.50 thereafter
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 23
|
| Stock symbol: | TSX Venture: OSR
|
| Stock price: | C$1.04 at close Nov. 23
|
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