OROCO ANNOUNCES BROKERED PRIVATE PLACEMENT FOR GROSS PROCEEDS OF C$6.0 MILLION

Vancouver, Canada, May 16, 2024 (GLOBE NEWSWIRE) -- Oroco Resources Corp. (TSX-V: OCO, OTC: ORRCF) (“Oroco” or the “Company”) is pleased to announce that it has entered into an agreement with Red Cloud Securities Inc. to act as lead agent and sole bookrunner on behalf of a syndicate of agents (collectively, the “Agents”) in connection with a best efforts, private placement (the "Offering") for gross proceeds of C$6,000,000 from the sale of 13,333,333 units of the Company (each, a “Unit”) at a price of C$0.45 per Unit. Each Unit will consist of one common share of the Company (each, a “Unit Share”) and one half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder to purchase one common share of the Company (each, a “Warrant Share”) at a price of C$0.65 at any time on or before that date which is 24 months after the closing date of the Offering.

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