June 12, 2008 Orko Silver Closes $12.0 Million Bought Deal Private Placement
Not for distribution to United States Newswire Services or for dissemination in the United States
VANCOUVER, British Columbia - Orko Silver Corp. (TSX.V - OK) announces today the closing of its previously announced private placement which includes the full exercise of the Underwriters option. 7,320,000 common shares of the Company were placed at a price of $1.65 per share for aggregate gross proceeds of $12,078,000.
The shares were placed on a bought deal private placement basis by a syndicate of underwriters co-led by GMP Securities L.P. and BMO Capital Markets Inc., and including Haywood Securities Inc. and Macquarie Capital Markets Canada Ltd. (collectively the "Underwriters").
As partial consideration for their underwriting services, the syndicate of Underwriters was granted 439,200 Broker Warrants. Each Broker Warrant entitles the holder to acquire one common share at a price of $1.65 for a period of 2 years from the closing date.
The net proceeds of the private placement will be used for the continuing exploration program on Orko Silver's Mexican mining properties and for general corporate purposes including working capital.
All securities issued under the private placement are subject to a hold period expiring October 13, 2008.
About Orko Silver Corp.
Orko Silver Corp. is a professional exploration company with an increasing silver resource. Orko Silver's principal project, La Preciosa, located near the city of Durango, Mexico, is an advanced silver and gold project. The Company is currently drilling at La Preciosa using 4 rigs working 24 hours a day, 7 days a week. The deposit remains open in all directions and to depth. Two additional projects include the Santa Monica east of La Preciosa and the San Juan west of La Preciosa. All are undergoing exploration.
ON BEHALF OF THE BOARD OF DIRECTORS
For further information, contact Orko Silver Corp. at (604) 684-4691 or
Via email at 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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