Orovero Resources Re-Affirms Share Exchange Financing
08 11월 2013 - 5:44AM
Access Wire
Orovero Resources Corp. (formerly Golden
Alliance Resources Corp.) (TSX-V: OVR, Frankfurt: GA0, "Orovero"
or the "Company") is pleased to
announce that, further to the Company's news release of October 28,
2013, the Company announces it has re-affirmed its private
placement with Global Resources Investments Ltd. ("GRIL",) an arm's
length party to Orovero. The Company will be
seeking to raise $477,000 through the sale of 5,300,000 units at
$0.09 per unit. Each unit consists of one common share of the
Company and one-half warrant. Each whole warrant is exercisable at
$0.15 per share for two years, so that 2,650,000 transferrable
warrants will be issuable.
GRIL has been
established to exploit investment opportunities in the junior
mining and natural resources sectors worldwide, with an investment
objective to generate medium and long-term capital growth. GRIL
will re-register as a public company and be constituted as an
investment trust with the name Global Resources Investment Trust
("GRIT") and seek admission of its ordinary shares on the main
market for listed securities on the London Stock
Exchange.
In consideration for
acquiring the Company's units, GRIT will issue and deliver to the
Company 284,844 ordinary shares of GRIT at ?1.00 per share (the
"GRIT Shares"), which amount amends the number of GRIT Shares
announced in the Company's new release dated October 28, 2013. The
Company will then sell the GRIT Shares through the facilities of
the London Stock Exchange to realize the private placement
proceeds.
A finder's fee in the
form of common shares will be payable to Jordan Capital Markets
Inc. for introducing the company and assisting in negotiating the
transaction with GRIT.
Closing of the
transaction is subject to a number of conditions precedent,
including approval of the TSX Venture Exchange, and GRIT
successfully listing on the London Stock Exchange.
The proceeds from the
private placement will be used by the Company to identify, acquire,
refurbish and commission a toll mill in Peru with its partnership,
as announced in Orovero's news release dated October 28, 2013.
Funds will also be used for general working capital. The Private
Placement securities will be issued subject to a minimum four-month
hold period from the date of issuance.
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.
ON BEHALF OF THE
BOARD
"Len
Clough"
_______________________________________
Mr. Len Clough, Chairman, President, CEO
and Director
For further information please
contact:
Mr. Shawn Perger, Corporate Communications
Tel: 1-604-687-1828
Toll-Free: 1-800-901-0058
Email: info@oroveroresources.com
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
This news release may contain forward-looking
statements including but not limited to comments regarding the
timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral
recovery processes, etc. Forward-looking statements address future
events and conditions and therefore involve inherent risks and
uncertainties. Actual results may differ materially from those
currently anticipated in such statements. Readers are encouraged to
refer to the Company's public disclosure documents for a more
detailed discussion of factors that may impact expected future
results. The Company undertakes no obligation to publicly update or
revise any forward-looking statements. We advise U.S. investors
that the SEC's mining guidelines strictly prohibit information of
this type in documents filed with the SEC. U.S. investors are
cautioned that mineral deposits on adjacent properties are not
indicative of mineral deposits on our properties.
The
securities being offered have not been, nor will they be registered
under the United States Securities Act of 1933, as amended, or
state securities laws and may not be offered or sold within the
United States or to, or for the account or benefit of, U.S. persons
absent U.S. federal and state registration or an applicable
exemption from the U.S. registration requirements. This release
does not constitute an offer for sale of securities in the United
States.
-NOT FOR DISTRIBUTION IN THE
UNITED STATES OR FOR DISSEMINATION TO OR THROUGH US NEWSWIRE
SERVICES-
Orovero Resources Corp (TSXV:OVR)
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