Vancouver, British Columbia--(Newsfile Corp. - April 24, 2020) - New Oroperu Resources Inc. (TSXV: ORO) (the "Company" or "New Oroperu") is pleased to announce that it has increased its previously announced non-brokered financing to accommodate investor demand.
The non-brokered private placement has been increased to aggregate gross proceeds of C$1,300,000 consisting of units at a price of C$0.70 per unit. Each unit will consist of one common share of the Company and one-half of one share purchase warrant of the Company. Each whole share purchase warrant will entitle the holder to purchase one common share for a period of three years after the closing of the financing at an exercise price of C$0.85 per common share. The proceeds from the financing will be used for general working capital and corporate purposes. No finder fees are being paid by the Company in connection with the financing. The financing is subject to the approval of the TSX Venture Exchange.
K. Wayne Livingstone, President & CEO, commented, "We are very pleased to be accommodating investor interest through this upsize and the Company is now well financed to meet our value enhancing goals during a critical year for New Oroperu. These initiatives include quantifying a potential oxide mineral resource at Tres Cruces and evaluating drilling opportunities on several high-priority targets."
About the Company
New Oroperu is a junior exploration company based in Vancouver, B.C., which owns the Tres Cruces gold project in Peru. Tres Cruces has a mineral resource that is the subject of a NI 43-101- compliant technical report dated September 28, 2012 (see New Oroperu News Release dated October 16, 2012). The report is available at the Company's website (www.oroperu.com) and is filed on SEDAR (www.sedar.com).
For further information, please contact Mr. Wayne Livingstone at 604-638-1408.
ON BEHALF OF THE BOARD OF DIRECTORS
"K. Wayne Livingstone"
K. Wayne Livingstone
Forward looking statements: This news release includes certain "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively "forward looking statements")." Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the proposed private placement and the Company's plans for the Tres Cruces project. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.
Neither the 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 news release.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54859