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Oroco Receives Demand for Payment

Jun 28 2013 12:00AM

Marketwire

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VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/28/13 -- Oroco Resource Corp. ("Oroco") (TSX VENTURE: OCO)(FRANKFURT: OR6) announces that it has received a demand from Wexford Catalyst Trading Limited for payment of the outstanding principal, in the amount of $750,000, and the associated interest and fees with regard to the debenture issued on May 2, 2012 by the Company to Goldman Sachs International FBO Wexford Catalyst Trading Limited. The Company has also received a demand from Wexford Spectrum Trading Limited for payment of the outstanding principal, in the amount of $3,000,000, and the associated interest and fees with regard a debenture issued on May 2, 2012 by the Company with regard to the debenture issued on May 2, 2012 by the Company to Goldman Sachs International FBO Wexford Spectrum Trading Limited (jointly, "the Debentures"). The aggregate accrued interest to date outstanding on the Debentures is approximately $257,000.

The Company expects to pay out the Debentures with proceeds from its indirect sale of the Cerro Prieto Project to Goldgroup Mining Inc., and has been in regular communication with Wexford Capital LP in regard to this.

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.



Contacts:
Oroco Resource Corp.
Mr. Craig Dalziel
President and CEO
604-688-6200
604-688-6260 (FAX)
www.orocoresourcecorp.com





Source: Marketwire


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