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Sorrento Resources Closes Listed Issuer Financing Exemption (LIFE) Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - March 2, 2026) - Sorrento Resources Ltd. (CSE: SRS) (OTCQB: SRSLF) (the "Company" or "Sorrento"), a Canadian expl
About this update from Sorrento Resources Ltd.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - March 2, 2026) - Sorrento Resources Ltd. (CSE: SRS) (OTCQB: SRSLF) (the \"Company\" or \"Sorrento\"), a Canadian exploration company focused on the acquisition, exploration, and development of mineral projects in Atlantic Canada, is pleased to announce that, further to its news release dated February 4, 2026, it has closed a non-brokered private placement of 7,500,000 units of the Company (the \"Units\") at a price of CDN$0.25 per Unit for gross proceeds of CDN$1,875,000 (the \"Offering\"). Each unit (a \"Unit\") is comprised of one common share of the Company (a \"Share\") and one common share purchase warrant of the Company (a \"Warrant\"). Each Warrant is exercisable to acquire one common share of the Company at an exercise price of $0.35 per share for a period of 24 months, expiring March 2, 2028. The Offering is being completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions to the Listed Issuer Financing Exemption (the \"LIFE Exemption\") to purchasers resident in each of the Provinces of Canada, except Quebec. The Units issued pursuant to the LIFE Exemption are not subject to a hold period in accordance with applicable Canadian securities laws. Pursuant to the Offering, the Company has paid finder's fees totaling $23,000 and issued 84,000 non-transferable broker warrants (the \"Broker Warrants\"). Each Broker Warrant is exercisable to acquire one common share of the Company at an exercise price of $0.35 per share for a period of 24 months, expiring March 2, 2028. The Company plans to use the net proceeds of the Offering for exploration expenditures, marketing and promotion and for general working capital purposes. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the 1933 Act or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registratio...