Oroco Resource Names Charles Cryer New CEO

(RTTNews) - Oroco Resource Corp. (OCO.V), a Canadian mineral exploration company, on Monday announced the appointment of Charles Cryer as its new chief executive officer, effective June 16.

He replaces Richard Lock who had resigned in March this year for personal reasons.

Cryer, a mining engineer with more than 30 years of global capital markets and natural resources experience, will lead development of Oroco's flagship Santo Toms copper project, the company said in a statement.

He most recently worked as an independent consultant on the development of mineral deposits for an East Asian client and previously spent over nine years at Australian advisory firm RFC Ambrian.

Subject to TSX Venture Exchange acceptance, Oroco granted Cryer options to buy up to 900,000 common shares at $0.65 each, exercisable for three years. The options vest in five quarterly installments of 180,000 shares, beginning June 16.

On the TSXV, shares of Oroco resource closed Friday's trading 3.85 percent higher, changing hands at C$0.4050.