ORKO SILVER INCREASES PRIVATE PLACEMENT TO $14 MILLION
Toronto: September 08, 2010 Orko
Silver Corp (the Company ) (TSXV- OK) is pleased to
announce that it has increased the size of the private placement announced on
September 1, 2010, from Cdn$7 million to approximately Cdn$14 million.
The common shares (the Common Shares ) are being sold by a
syndicate of agents led by GMP Securities L.P. and including Byron Securities
Limited (collectively, the Agents ),
on a best efforts private placement basis, without
underwriter liability, at an issue price of Cdn$1.65 per Common Share (the Issue Price ) for aggregate gross
proceeds of approximately Cdn$14 million (the Offering ).
Concurrent with the closing of the Offering,
the Company intends to issue to a group of European investors and Pan American
Silver Corp., on a non-brokered private placement basis, approximately 852,000
Common Shares at the Issue Price for additional gross proceeds to the Company
of approximately Cdn$1,405,800 (the Non-Brokered Placement ).
The Company plans to use the net proceeds
from the offering for general corporate purposes.
The offering is scheduled to close on or
about September 21, 2010 and is subject to certain conditions including, but
not limited to, the receipt of all necessary approvals including the approval
of the TSX Venture Exchange and the securities regulatory authorities.
This press release is not an offer or a
solicitation of an offer of securities for sale in the United States. The Common Shares have not been and will
not be registered under the U.S. Securities Act of 1933, as amended, and may
not be offered or sold in the United States absent registration or an
applicable exemption from registration.
Certain of the statements made and
information contained herein, including the use of proceeds, is forward-looking information within the meaning of applicable Canadian
securities legislation or forward-looking
statements within the meaning the
Securities Exchange Act of 1934 of the United States. Generally, these
forward-looking statements or information can be identified by the use of
forward-looking terminology such as plans , expects or does not expect , is expected , budget , scheduled , estimates , forecasts , intends , anticipates or does not anticipate , or believes , or variations of such words
and phrases or state that certain actions, events or results may , could , would , might or will be taken , occur or be achieved . Forward-looking statements are subject
to a variety of risks and uncertainties which could cause actual events or
results to differ from those reflected in the forward-looking statements,
including, without limitation, risks and uncertainties relating to foreign
currency fluctuations; risks inherent in mining including environmental
hazards, industrial accidents, unusual or unexpected geological formations,
ground control problems and flooding; risks associated with the estimation of
mineral resources and reserves and the geology, grade and continuity of mineral
deposits; the possibility that future exploration, the potential for unexpected
costs and expenses, commodity price fluctuations; uncertain political and
economic environments; changes in laws or policies, foreign taxation, delays or
the inability to obtain necessary governmental permits; and other risks and
uncertainties, including those described under risk factors in the Company s
management discussion and analysis. Should one or more of these risks and
uncertainties materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those described in forward-looking
statements. The forward-looking
information contained herein is presently for the purpose of assisting
investors in understanding the Company s plans and objectives and may not be
appropriate for other purposes.
Accordingly, readers are advised not to place undue reliance on
Orko Silver Corp.
For further information, contact Orko Silver Corp. at (604) 687-6310 or
via our website on line at www.orkosilver.com