OROCO GRANTS INCENTIVE STOCK OPTIONS
May 11 2021 - 8:00AM
Oroco Resource Corp. (
TSX-V: OCO)
(“
Oroco” or “
the Company”)
announces the grant of incentive stock options to its directors,
officers, management personnel and consultants to acquire an
aggregate of 4,425,000 common shares in the capital of the Company
at an exercise price of $3.15 per share (the “
Options”).
The Options are exercisable for a three-year term, expiring on
May 10, 2024, with 20% vesting immediately and a further 20%
vesting every 6 months over the next two years.
The Options were granted in accordance with the Company’s 10%
rolling incentive stock option plan. As a result of these grants,
the stock options issued by the Company represent 5.6% of its
issued and outstanding capital. The grant of the Options is
subject to the approval of the TSX Venture Exchange.
ABOUT OROCO:
The Company holds a net 73.2% interest in the collective 1,172.9
ha Core Concessions of the Santo Tomas Project in NW Mexico.
The Company also holds a 77.5% interest in 7,807.9 ha of mineral
concessions surrounding and adjacent to the Core Concessions (for a
total project area of 22,192 acres). The Project is situated
within the Santo Tomas District, which extends from Santo Tomas up
to the Jinchuan Group’s Bahuerachi project, approximately 14 km to
the north-east. Santo Tomas hosts a significant copper
porphyry deposit defined by prior exploration spanning the period
from 1968 to 1994. During that time, the property was tested by
over 100 diamond and reverse circulation drill holes, totaling
approximately 30,000 meters. Based on data generated by these drill
programs, a historical Prefeasibility Study was completed by
Bateman Engineering Inc. in 1994.
The Santo Tomas Project is located within 160km of the Pacific
deep-water port at Topolobampo and is serviced via highway and
proximal rail (and parallel corridors of trunk grid power lines and
natural gas) through the city of Los Mochis to the northern city of
Choix. The property is reached by a 32 km access road originally
built to service Goldcorp’s El Sauzal Mine in Chihuahua State.
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.
Craig Dalziel
Oroco Resource Corp.
(604) 688-6200
cdalziel@orocoresourcecorp.com
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