Mr. Kenneth MacLeod reports
SONORO GOLD ANNOUNCES $500,000 PRIVATE PLACEMENT
Sonoro Gold Corp. has arranged a non-brokered private placement offering, consisting of 5,555,556 units at a price of nine cents per unit for gross proceeds of $500,000.
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 of the private placement at an exercise price of 14 cents per share.
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-plus-one-day 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 to finance the continuing development of the company's Cerro Caliche gold project in Sonora, Mexico, as well as for working capital.
About Sonoro Gold Corp.
Sonoro Gold is a publicly listed exploration and development company holding the development-stage Cerro Caliche project and the exploration-stage San Marcial project 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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