Oroco Closes First Tranche of Non-Brokered Private Placement

Oroco Closes First Tranche of Non-Brokered

Private Placement

VANCOUVER

,

Aug. 6, 2019

/CNW/ - Oroco Resource Corp. (

TSX-V: OCO

) ("

Oroco

" or "

the

Company

") is pleased to announce that it has closed the first tranche of the previously announced

non-brokered private placement, issuing 2,000,000 units at a price of

$0.45

per unit, for gross

proceeds of

$900,000

(the "

Financing

"). Each unit consists of one common share and one-half of

one common share purchase warrant. Each whole share purchase warrant will be exercisable into

one additional common share for a period of 24 months from closing at a price of

$0.70

per share.

The proceeds of the Financing will be used, in part, to improve and develop road access to the North

and South Zones at Santo Tomas, construct an exploration camp on the West Bench of the

property, and undertake a work campaign on the property involving ground geophysical and

geological surveys, including Three Dimensional Induced Polarization programs. In addition,

proceeds will be utilized for aspects of project permitting, and the scoping of water and power

needs, sources and costs.

Pursuant to the policies of the TSX Venture (the "Exchange"), all shares issued in this first tranche,

and any shares issued pursuant to the exercise of the warrants, are subject to a hold period expiring

December 7, 2019

.

Finder's fees of 19,200 warrants are being paid in connection with the Financing. Each finder's fee

warrant will entitle the holder to purchase one common share of the Company for a period of 24

months from closing at a price of

$0.45

per share.

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.

SOURCE

Oroco Resource Corp.

View original content:

http://www.newswire.ca/en/releases/archive/August2019/06/c9718.html

%SEDAR: 00026117E

For further information:

Mr. Craig Dalziel, President and CEO, Oroco Resource Corp., Tel: 604-

688-6200, www.orocoresourcecorp.com

CO: Oroco Resource Corp.

CNW 15:36e 06-AUG-19