Business
San Lorenzo Announces Proposed Private Placement
(TheNewswire) CALGARY, AB – TheNewswire - August 25, 202 3 - San Loren...
About this update from San Lorenzo Gold Corp
[{"type":"text","content":"San Lorenzo Announces Proposed Private Placement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n CALGARY, AB –\n \n \n TheNewswire -\n \n \n August 25, 202\n \n \n 3 -\n \n San Lorenzo Gold Corp.\n(\"\n \n San Lorenzo\n \n \" or\nthe \"\n \n Company\n \n \")\n(TSXV:SLG) (OTC:SNLGF) is pleased to announce plans to complete a\nnon-brokered private placement of up to 8,333,333 units of the Company\n(\"\n \n Units\n \n \") at a price\nof $0.12 per Unit, for aggregate gross proceeds of up to $1,000,000\n(the \"\n \n Offering\n \n \").\nThere is no minimum Offering. Each Unit will be comprised of one (1)\ncommon share of the Company (\"\n \n Common Share\n \n \") and one Common Share purchase warrant\n(\"\n \n Warrant\n \n \"). Each\nwhole Warrant entitles the holder thereof to purchase one (1) Common\nShare for $0.18 for a period of 18 months from the date of closing of\nthe Offering.   San Lorenzo may pay a cash commission or finder's fee\nto qualified non-related parties of up to 8% of the gross proceeds of\nthe Offering (up to $80,000) payable in cash together with the\nissuance of broker warrants representing 8% of the Common Shares\nissued in connection with the Offering (\"\n \n Broker Warrants\n \n \"). Each Broker\nWarrant will entitle the holder thereof to purchase one (1) Common\nShare for $0.12 for a period of 18 months following closing of the\nOffering. The proceeds of the Offering will be used for working\ncapital purposes including the costs associated with commencing the\nnext phase of drilling at Salvadora.\n \n \n The Offering is being offered to all of the existing shareholders of\nthe Company who are permitted to subscribe pursuant to the existing\nshareholder exemption. The Company set August 24, 2023, as the record\ndate for determining existing shareholders entitled to subscribe for\nUnits pursuant to the existing shareholder exemption and anticipates\nthat the Offering may close in tranches with the final closing to\noccur on or about September 8, 2023. The existing securityholder\nexemption limits a shareholder to a maximum investment of $15,000 in a\n12-month period unless the shareholder has obtained advice regarding\nthe suitability of the investment and, if the shareholder is resident\nin a jurisdiction of Canada, that advice has been obtained from a\nperson that is reg...