Oroco Res Corp (ORRCF) 0.0372 $ORRCF
Debt Assignment Agreement Closes
Marketwire - Wed Oct 01, 10:59PM CDT
Oroco Resource Corp. (TSX VENTURE: OCO) ("Oroco" or "the Company"
the Company is pleased to announce the closing of its previously announced (news release of September 22, 2014) agreement to assign to Goldgroup Mining Inc. ("Goldgroup" the rights to refunds obtained by Minas de Oroco Resources, S.A. de C.V. of Value Added Tax paid during the years 2008 through 2012. Upon closing Goldgroup issued 1,200,000 of its common shares to Oroco.
OCO.VN: 0.040 (-0.005)
Goldgroup Completes Second Drawdown on Loan Facility
PR Newswire - Wed Oct 01, 4:56PM CDT
Goldgroup Mining Inc. ("Goldgroup" or the "Company" (TSX:GGA, OTC:GGAZF, BMV SIX:GGAN.MX) is pleased to announce that the Company has completed the second drawdown of USD$3,993,239 on the previously announced secured medium term loan facility of USD$10 million (the "Facility) provided by RMB Resources Inc. ("RMB" and Credipresto SAPI de CV SOFOM ENR ("Credipresto" . The total amount of funds drawn down under the Facility are USD$6,000,000. These funds will be used to facilitate the development of the Company's Cerro Prieto mine ("Cerro Prieto" and for other working capital purposes.
GGA.TO: 0.14 (+0.01)
Oroco Enters Into Agreements With Goldgroup
Marketwire - Mon Sep 22, 7:35PM CDT
Oroco Resource Corp. (TSX VENTURE: OCO) ("Oroco" advises that it has agreed to assign to Goldgroup Mining Inc. ("Goldgroup" the Company's right to the refund obtained by Minas de Oroco Resources, S.A. de C.V. ("MOR" of Value Added Tax ("VAT" paid during the years 2008 through 2012. In consideration of the assignment, Goldgroup will pay the Company 1,200,000 common shares and 50% of any VAT recovered in excess of CDN$400,000, which sum Goldgroup may elect to pay in Goldgroup shares valued at their 5-day weighted average trading price at the time of payment. The Company will reimburse Goldgroup for 60% of any amount less than CDN$400,000 of VAT recovered by August 30, 2015, though it will remain entitled to recover that amount back from any future VAT recoveries. The Company is of the opinion that Goldgroup's in country resources, expertise and contacts will substantially sustain and enhance MORs efforts and ability to recover the VAT in a timely fashion. Closing of the Agreement is conditional upon receipt of all necessary regulatory approvals, including the approval of the Toronto Stock Exchange.
OCO.VN: 0.040 (-0.005)
Debt Assignment Agreement Closes
Marketwire - Wed Oct 01, 10:59PM CDT
Oroco Resource Corp. (TSX VENTURE: OCO) ("Oroco" or "the Company"
the Company is pleased to announce the closing of its previously announced (news release of September 22, 2014) agreement to assign to Goldgroup Mining Inc. ("Goldgroup" the rights to refunds obtained by Minas de Oroco Resources, S.A. de C.V. of Value Added Tax paid during the years 2008 through 2012. Upon closing Goldgroup issued 1,200,000 of its common shares to Oroco. OCO.VN: 0.040 (-0.005)
Goldgroup Completes Second Drawdown on Loan Facility
PR Newswire - Wed Oct 01, 4:56PM CDT
Goldgroup Mining Inc. ("Goldgroup" or the "Company"
(TSX:GGA, OTC:GGAZF, BMV SIX:GGAN.MX) is pleased to announce that the Company has completed the second drawdown of USD$3,993,239 on the previously announced secured medium term loan facility of USD$10 million (the "Facility) provided by RMB Resources Inc. ("RMB" and Credipresto SAPI de CV SOFOM ENR ("Credipresto" . The total amount of funds drawn down under the Facility are USD$6,000,000. These funds will be used to facilitate the development of the Company's Cerro Prieto mine ("Cerro Prieto" and for other working capital purposes. GGA.TO: 0.14 (+0.01)
Oroco Enters Into Agreements With Goldgroup
Marketwire - Mon Sep 22, 7:35PM CDT
Oroco Resource Corp. (TSX VENTURE: OCO) ("Oroco"
advises that it has agreed to assign to Goldgroup Mining Inc. ("Goldgroup" the Company's right to the refund obtained by Minas de Oroco Resources, S.A. de C.V. ("MOR" of Value Added Tax ("VAT" paid during the years 2008 through 2012. In consideration of the assignment, Goldgroup will pay the Company 1,200,000 common shares and 50% of any VAT recovered in excess of CDN$400,000, which sum Goldgroup may elect to pay in Goldgroup shares valued at their 5-day weighted average trading price at the time of payment. The Company will reimburse Goldgroup for 60% of any amount less than CDN$400,000 of VAT recovered by August 30, 2015, though it will remain entitled to recover that amount back from any future VAT recoveries. The Company is of the opinion that Goldgroup's in country resources, expertise and contacts will substantially sustain and enhance MORs efforts and ability to recover the VAT in a timely fashion. Closing of the Agreement is conditional upon receipt of all necessary regulatory approvals, including the approval of the Toronto Stock Exchange. OCO.VN: 0.040 (-0.005)
