Oroco Receives Cash Payout From Goldgroup Mining Inc.
September 23, 2016
Oroco Resource Corp. announces that it has received US$811,690 from Goldgroup Mining Inc. in settlement of the outstanding balance of all debts due from Goldgroup, being the remaining principal and accrued interest from (a) the US$1,500,000 promissory note, as amended, issued to the Company by Goldgroup pursuant to the terms of the Cerro Prieto property sale; (b) the Value Added Tax refund due to Oroco pursuant to a debt assignment agreement; and (c) a break fee payable to Oroco pursuant to an agreement with Goldgroup dated September 28, 2015.
