06:24:26 EDT Tue 23 Apr 2024
Enter Symbol
or Name
USA
CA



Sonoro Gold Corp
Symbol SGO
Shares Issued 85,077,285
Close 2021-03-29 C$ 0.185
Market Cap C$ 15,739,298
Recent Sedar Documents

Sonoro Gold arranges $2-million private placement

2021-03-29 11:29 ET - News Release

Mr. Kenneth MacLeod reports

SONORO GOLD ANNOUNCES $2.0 MILLION UNIT PRIVATE PLACEMENT

Sonoro Gold Corp. will undertake a non-brokered private placement offering, consisting of up to 11,111,111 units at a price of 18 cents per unit for gross proceeds of up to $2-million. Each unit will comprise one Sonoro common share and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional Sonoro common share for a period of two years from the closing at an exercise price of 30 cents.

The company intends to pay finders' fees, as permitted under the policies of the TSX Venture Exchange, in respect of units placed with the assistance of registered securities dealers. All securities issued and issuable in connection with the offering will be subject to a four-month hold period in Canada from the closing date. The offering is subject to TSX-V acceptance.

The net proceeds from the offering will be used principally to finance Sonoro's continuing development plans at its Cerro Caliche gold project, located in Sonora, Mexico, and project maintenance payments, and secondarily for corporate and general administrative expenses.

Kenneth MacLeod, president and chief executive officer of Sonoro, stated: "We are pleased to report that metallurgical testing by McClelland Laboratories has been progressing on schedule, with completion of the column leach tests anticipated by July, together with the completion of the updated 43-101 resource report and a preliminary economic assessment (PEA) for the Cerro Caliche project. The private placement will provide sufficient capital to conclude the current phase of the drilling program and complete the independent technical reports and position the company for the next phase of development as we advance toward a production decision at Cerro Caliche."

About Sonoro Gold Corp.

Sonoro Gold is a publicly listed exploration and development company with a portfolio of exploration-stage precious metal properties in Sonora state, Mexico. The company has highly experienced operational and management teams with proven records for the discovery and development of natural resource deposits.

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