Orko Silver Corp. Announces Closing of Private Placement.
(Read original article here.)
VANCOUVER, British Columbia — Orko Silver Corp. (“Orko” or the “Company”) is pleased to announce that it has closed the private placement originally announced on April 14, 2009. The Company issued 4,000,000 common shares to Pan American Silver Corp. (“Pan American”), at a price of $1.25 per common share, for gross proceeds of $5 Million.
The securities issued under the private placement will be subject to a four-month hold period from the date of closing.
The proceeds of the private placement will be used for general corporate purposes and expenses related to the previously announced joint venture with Pan American.
About Orko Silver
Orko Silver Corp. is developing one of the world’s largest primary silver deposits, La Preciosa, located near the city of Durango, Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS
For further information, contact Orko Silver Corp. at (604) 684-4691 or visit our website on line at www.orkosilver.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for this News Release. This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Orko relies upon litigation protection for forward-looking statements.
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