Oroco Resource Corp. announced the closing of the Company's acquisition of the balance of the ownership of Altamura Copper Corp. ("Altamura"), giving the Company 100 percent ownership of Altamura and outright control of the Santo Tomás porphyry copper project in northwestern Mexico.
"The Altamura acquisition completes a highly accretive process for Oroco and its shareholders," commented Craig Dalziel, the Oroco CEO. "We are now able to fully focus on the development of a significant geological asset which brings with it a very positive local community relationship; exceptional supporting infrastructure; an eager and capable local workforce; and clearly supportive local, regional and federal government agencies. The future for Santo Tomás and the surrounding communities is very bright."
For further information about the Company's acquisition of Altamura and the Santo Tomás Project, please refer to the Company's management information circular dated November 19, 2019 and the Company's news releases dated December 20, 2019, January 9, 2020 and February 27, 2020, all of which are available under Oroco's profile on SEDAR.
The Company is also very pleased to announce that Mr. Ian W. Rice, of London, England, has agreed to join the Company as its Senior Business Advisor. Mr. Rice is a well-known international entrepreneur with a career focus on the mining and renewable energy sectors. His considerable knowledge of the capital markets has directly contributed to the success of numerous early-stage public and private companies.
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