News Column

Orovero Closes Second and Final Tranche of Private Placement

January 23, 2014

ENP Newswire - 23 January 2014 Release date- 22012014 - Orovero Resources Corp. (TSX-V: OVR, Frankfurt: GA0) is pleased to announce that it has closed the second and final tranche of the non-brokered private placement as announced on October 28, 2013 . The Company issued 833,334 units at a price of $0.09 per unit in the second tranche for gross proceeds of $75,000 . The Company raised total gross proceeds of $591,904 from the issuance of a total of 6,576,710 units in this private placement. Each unit consists of one common share and one-half of one share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share at a price of $0.15 per share for two years. The Company paid aggregate finders' fees to persons who introduced the Company to private placement investors consisting of $26,190 cash and 291,000 finders' warrants. Each finders' warrant entitles the holder to purchase one common share at a price of $0.15 per share for two years. All securities issued in connection with the first tranche of the private placement are subject to a hold period in Canada expiring on April 25, 2014 and all securities issued in connection with the second tranche of the private placement are subject to a hold period in Canada expiring on May 22, 2014 . The proceeds from the private placement will be used by the Company, in part, to identify, acquire, refurbish and commission a toll mill in Peru with its partnership, as announced in Orovero's news release dated October 23, 2013 . Funds will also be used for general working capital. About Orovero Resources Corp. Orovero is a company focused on pursuing near term production opportunities with cash flow. The Company is working in partnership to develop its first gold toll milling operation in Peru with a goal of becoming Peru's processor of choice with multiple facilities processing in excess of 1000 tonnes per day. In addition, the Company has a portfolio of highly prospective exploration properties including its' flagship property called Rio Tabaconas located in Northern Peru . Contact: Mr. Shawn Perger Corporate Communications Tel: 1-604-687-1828 Email: info@oroveroresources.com This news release contains certain statements that may be deemed 'forward-looking' statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'expects', 'plans', 'anticipates', 'believes', 'intends', 'estimates', 'projects', 'potential' and similar expressions, or that events or conditions 'will', 'would', 'may', 'could' or 'should' occur and include, without limitation, statements regarding the Company's plans with respect to exploration activities and statements about the Company's planned toll mill operations in Peru . Although Orovero believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law the Company undertakes no obligation to update these forward looking statements in the event that management's beliefs, estimates or opinions or other factors, should change.


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Source: ENP Newswire


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