Home > Boards > Canadian > Mining/Resources > Sonoro Gold Corp. (SMOFF)

Sonoro Gold Announces Addition of $0.6 Million Overallotment

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
lawrenzo Member Profile
 
Followed By 11
Posts 2,114
Boards Moderated 0
Alias Born 02/06/04
160x600 placeholder
lawrenzo   Monday, 04/12/21 02:21:02 PM
Re: None
Post # of 49 
Sonoro Gold Announces Addition of $0.6 Million Overallotment Option to $2.0 Million Unit Private Placement

4:04 PM ET, 04/09/2021 - GlobeNewswire

“THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTIONTO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES”

VANCOUVER, British Columbia, April 09, 2021 (GLOBE NEWSWIRE) -- Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to announce that, in response to strong investor demand, it is increasing its non-brokered private placement first announced on March 29 (the "Offering") by providing for an overallotment option of up to 30% (3,333,333 Units) over and above the 11,111,111 Units previously announced. The Offering price remains $0.18 per Unit, each comprised 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 $0.30 per share. The Offering, if fully subscribed, will yield gross proceeds of $2,000,000, with the potential to add up to $600,000 of additional proceeds under the overallotment option.

The Company intends to pay finder’s 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 4-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 fund Sonoro’s ongoing 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 Corp. 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 track records for the discovery and development of natural resource deposits.

On behalf of the Board of SONORO GOLD CORP.

Per: “Kenneth MacLeod”
Kenneth MacLeod
President & CEO

For further information, please contact:Sonoro Gold Corp. - Tel: (604) 632-1764Email: info@sonorogold.com

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences