New Oroperu Completes $650,500 Non-Brokered Financing
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 21, 2015) - New Oroperu Resources Inc. (the "Company" or "New Oroperu") (TSX VENTURE:ORO) is pleased to announce that it has closed a non-brokered private placement at a premium to market, consisting of 4,336,667 units at a price of $0.15 per unit for aggregate proceeds of $650,500. Each unit consists of one common share of the Company and one-half of a transferable share purchase warrant of the Company. Each warrant is exercisable to acquire one common share at an exercise price of $0.20 for a period of five years from the date of closing of the private placement. The proceeds from the financing will be used for general working capital.
All of the above securities are subject to a four-month plus one-day hold period expiring November 21, 2015 in accordance with applicable securities laws and stock exchange rules.
About the Company
New Oroperu is a junior exploration company based in Vancouver, B.C., which owns the Tres Cruces gold project in Peru, which contains 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).
The Tres Cruces is a 100% Company-owned project, subject to 1 1/2% NSR royalty and subject to an option agreement with Minera Barrick Misquichilca S.A. ("Barrick"). Under the terms of the agreement, in order to exercise its option Barrick must pay for all expenditures up to a production decision. To maintain the option Barrick must pay US$250,000.00 to the Company by May 31st each year until a production decision is made. The Company retains a 30% interest and its share of production costs are financed by Barrick. Additionally, under the agreement New Oroperu retains a 2% NSR royalty of which US$1,000,000 is to be paid in advance at the time of a production decision.
ON BEHALF OF THE BOARD OF DIRECTORS
K. Wayne Livingstone, President
Note: 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.
