Business
San Lorenzo Provides Update to Proposed Private Placement
(TheNewswire) CALGARY, AB – TheNewswire - September 13, 202 3 - San Lo...
About this update from San Lorenzo Gold Corp
[{"type":"text","content":"San Lorenzo Provides Update to 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 September 13, 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 provide an update to the\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 \")\nannounced on August 25, 2023.\n \n \n The Company is pleased to report that while interest in the Offering\nhas exceeded the announced maximum, the Company expects to close the\nOffering later today at that announced maximum of $1,000,000.  The\nproceeds of the Offering are expected to be applied in the following\nmanner: costs related to the next phase of exploration including\ndrilling: $750,000, costs of the Offering: $50,000, costs related to\nprevious drilling: $100,000 with the remainder being allocated to\nworking capital.\n \n \n Completion of the Offering is subject to regulatory approval\nincluding, but not limited to, final approval of the TSX Venture\nExchange. The common shares and warrants issued pursuant to the\nOffering will be subject to a four month and a day hold period from\nthe date of closing of the Offering.\n \n \n For further information on the Company, readers are referred to the\nCompany's website at\n \n \n www.sanlorenzogold.com\n \n \n and\nits Canadian regulatory filings on SEDAR at\n \n \n www.sedar.com\n \n \n .\n \n \n \n About San Lorenzo Gold Corp.\n \n \n \n San Lorenzo Gold is involved in the exploration and advancement of\nmineral properties. The Company currently has three 100% owned\nproperties in Chile: Salvadora, Nancagua and Punta Alta.\n \n \n The Salvadora property is subject of a recent drill program.  The\nproperty is on trend with the El Salvador mine located 15km to the NW,\nwhich has been in production for over 60 years.  The Salvadora\nproperty has 5 zones of interest with only 3 having been drilled to\ndate. It is being explored for large scale copper-gold porphyry\ntargets and high-grade epithermal gold-silver-copper vein systems.\n \n \n Nancagua is a high grade mesothermal gold-silver prospect a...