17:33:17 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Sonoro Metals Corp (2)
Symbol SMO
Shares Issued 10,620,727
Close 2014-11-18 C$ 0.14
Market Cap C$ 1,486,902
Recent Sedar Documents

Sonoro Metals closes $200,000 tranche of financing

2014-11-20 14:50 ET - News Release

Mr. Kenneth MacLeod reports

SONORO COMPLETES $200,000 FLOW-THROUGH PRIVATE PLACEMENT

Sonoro Metals Corp. has closed the first tranche of its $900,000 private placement first announced on Nov. 10, 2014, and amended on Nov. 18, 2014. This first closing consisted of a total of 1,666,667 flow-through units at a price of 12 cents per flow-through unit for gross proceeds of $200,000. Each flow-through unit comprises one flow-through share and one common share purchase warrant exercisable for a term of three years. Each warrant entitles the holder to purchase one additional common share at a price of 15 cents per share during the first year following the closing, escalating to 20 cents per share in the second year and 25 cents per share in the third year, subject to the right of Sonoro to accelerate the expiry of the warrants, if at any time after four months and one day from the closing, during the term of the warrants, the common shares of Sonoro close at a price at or above 40 cents per share for more than 20 consecutive trading days.

The net proceeds from the offering will be primarily used by Sonoro for expenditures on the Monroe property and for general working capital purposes. The securities issued in connection with the offering are subject to a hold period expiring on March 20, 2015.

We seek Safe Harbor.

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