Orocobre Raises $10 Million Through Share Purchase Plan

Orocobre Limited (ASX:ORE,TSX:ORL) reported that it has completed its underwritten share purchase plan. Funds raised under the plan together with the recently completed privacy placement bring the total amount raised by Orocobre to A$50 million.

As quoted in the press release:

The Company received strong support from shareholders with eligible shareholders applying for A$3,976,500 of shares under the SPP, which closed on the 10th March. In total A$10,000,000 will be raised under the SPP with A$3,976,500 of shares being issued to eligible shareholders, and the balance of the shares to be issued pursuant to the SPP being underwritten by Canaccord Genuity (Australia) Limited.

The SPP was completed at an issue price of A$2.55 per share.

Click here to read the Orocobre Limited (ASX:ORE,TSX:ORL) press release