Oro Silver Announces Non-Brokered Private Placement
30 Novembro 2009 - 11:00AM
Marketwired
Oro Silver Resources Ltd. ("Oro Silver") (TSX VENTURE: OSR)
announces that it intends to complete a non-brokered private
placement of up to 5,000,000 units at a price of $0.17 per unit for
proceeds of up to $850,000. Each unit will consist of one common
share and one-half of a common share purchase warrant. Each whole
warrant will entitle the holder to purchase one additional common
share at an exercise price of $0.25 per share for a period of 1
year from the date of closing. The units issued will be subject to
a four-month hold period from the closing date.
The net proceeds of the private placement will be used for
exploration and resource definition on Oro Silver's El Compas
property in Zacatecas, Mexico, and for working capital and general
corporate purposes. Finder's fees may be payable in connection with
the private placement in accordance with TSX Venture Exchange
policy. The above transaction will be subject to regulatory
approval.
About Oro Silver
Oro Silver is a silver exploration company pursuing early and
advanced stage silver-based opportunities primarily in Mexico. Oro
Silver's strategy is to develop properties towards silver
production through a strategic business arrangement and development
plan focused on advanced-stage projects with known silver resources
that exhibit potential for expansion. The El Compas mine continues
to be the cornerstone for Oro Silver's growth strategy in the
Zacatecas silver district.
ON BEHALF OF THE BOARD OF DIRECTORS,
Darren Bahrey, President & CEO
Some statements in this release may contain forward-looking
information. These statements include, but are not limited to,
statements with respect to future exploration, development and
production activities, future acquisitions and future expenditures.
These statements address future events and conditions and, as such,
involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements to
be materially different from any future results, performance or
achievements expressed or implied by the statements. Such factors
include, among others, the time and success of future exploration,
development and production activities, the timing of future
acquisitions and the timing and amount of expenditures.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Oro Silver Resources Ltd. Darren Bahrey President
& CEO 604 646-1588 604 642-2411 (FAX) www.orosilver.com
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