08:13:20 EDT Sat 20 Apr 2024
Enter Symbol
or Name
USA
CA



Sonoro Gold Corp
Symbol SGO
Shares Issued 85,077,285
Close 2021-04-08 C$ 0.18
Market Cap C$ 15,313,911
Recent Sedar Documents

Sonoro Gold adds overallotment option to financing

2021-04-09 16:11 ET - News Release

Mr. Kenneth MacLeod reports

SONORO GOLD ANNOUNCES ADDITION OF $0.6 MILLION OVERALLOTMENT OPTION TO $2.0 MILLION UNIT PRIVATE PLACEMENT

In response to strong investor demand, Sonoro Gold Corp. is increasing its non-brokered private placement first announced on March 29, by providing for an overallotment option of up to 30 per cent (3,333,333 units) over and above the 11,111,111 units previously announced. The offering price remains 18 cents per unit, each composed of 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 per share. The offering, if fully subscribed, will yield gross proceeds of $2-million, with the potential to add up to $600,000 of additional proceeds under the overallotment option.

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, including the overallotment option, is subject to TSX Venture Exchange 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 property maintenance payments, and secondarily for corporate and general administrative expenses.

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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