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Additional Information
Market: ASX
Sector: General Mining
EPIC: ORE
Latest Price: A$1.81  (-2.16% Descending)
52-week High: A$3.28
52-week Low: A$0.98
Market Cap: A$186.78M
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Orocobre Limited
www.orocobre.com.au
Orocobre Limited (Orocobre) is an Australia-based exploration company. Orocobre has a portfolio of prospective exploration tenements in Argentina. Additionally, the Company has an exploration license application in Laos. The Argentinean projects are a lithium salar (salt lake) and three prospective copper/gold silver projects. The Olaroz Lithium Project consists of 7,600 hectares of tenements (cateo’s) over a salar (salt lake) known to contain lithium in brine. On February 28, 2008, the Company has entered into an agreement to acquire gold project, Marayes, located approximately 20 kilometers south of its Santo Domingo Copper-Gold porphyry project area in San Juan province, Argentina.
Full Orocobre Limited profile here
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Orocobre completes marketing for C$20 million Canadian equity offering

19th Mar 2010, 9:11 am

Orocobre (ASX: ORE) have announced that the company has successfully completed marketing of its previously announced C$20 million (AU$21.44 million) Canadian offering of subscription receipts.

The offering will consist of 10,000,000 Subscription Receipts to be issued at a price of  $2.00 (AU$2.15) per Subscription Receipt.

Completion of the offering is subject to execution of subscription agreements by investors and receipt by the Company of subscription moneys. Both of these events are expected to occur on or about 31 March 2010.

Following the sale of the Subscription Receipts, the company will use commercially reasonable efforts to qualify the ordinary shares issuable upon the conversion of the Subscription Receipts by filing a prospectus in each of the provinces of Canada in which purchasers of the Subscription Receipts reside and to obtain a final receipt and to list the company’s ordinary shares on the Toronto Stock Exchange.

Approval of the TSX Listing will be subject to the company meeting all applicable TSX listing criteria.

The proceeds of the Offering will be held in escrow pending the issue of a final receipt for the Prospectus and the completion of the TSX Listing.

If the Escrow Release Conditions are satisfied the Subscription Receipts will be converted into an equivalent number of ordinary shares in the company.

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