Oroco Negotiates Payment of Goldgroup Mining Inc. Notes
Oroco Resource Corp. announces that, further to its news release of September 16, 2015, it has agreed with Goldgroup Mining Inc. to a revised payment schedule for the US$950,000 outstanding from the two promissory notes issued by Goldgroup to the Company. Pursuant to the agreement, Goldgroup will have until November 16, 2015 to enter into a formal debt payment agreement with the Company, pursuant to which it will pay the Company US$300,000 on signing, US$20,000 per month, commencing October 1, 2015 until September 15, 2016, with the balance of the remaining principal on or before that date. The outstanding principal will bear 12% interest, payable monthly in arrears….