The Conversation (0)
CuOro Resources Corp. (TSXV:CUA) received shareholder consent for the transaction with Pacific Road Resources Fund II and Pacific Road Resources Fund II L.P. previously announced on May 28, 2012.
Under the terms of the Agreement, CuOro has granted to Pacific Road two separate options to purchase units of the Company by way of non-brokered private placements, subject to certain terms and conditions as set out in the Agreement. The issuance of the units is subject to the final approval of the TSXV (see May 28, 2012 press release).
CuOro Resources President & CEO, Robert Sedgemore said:
“We are pleased to have shareholder consent of this transaction and we look forward to partnering with Pacific Road. The transaction is potentially worth $47.5 million to CuOro Resources, if the options are fully exercised which would allow the Company to secure its funding requirements into the medium-term. This presents a solid financing plan for CuOro and allows the Company to advance the Santa Elena high grade copper project in line with our corporate goals for the next few years.”
Click here to read the CuOro Resources (TSXV:CUA) press release