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Closing of First Tranche of Non-Brokered Private Placement
(via TheNewswire) Calgary, Alberta / TheNewswire / March 9, 2018 - Sonoro Energy Ltd ...
About this update from Sonoro Energy Ltd.
[{"type":"text","content":"Closing of First Tranche of Non-Brokered Private Placement(via TheNewswire)\n\n \nCalgary, Alberta / TheNewswire / March 9, 2018 - Sonoro Energy Ltd. (\"Sonoro\" or the \"Company\") (TSXV: SNV) is pleased to announce the closing of a first tranche (the \"First Tranche\") of the non-brokered private placement for total gross proceeds of $1,764,602, further to its February 21, 2018 private placement offering (\"the Offering\") news release. Pursuant to the First Tranche, the Company sold 17,646,020 units (a \"Unit\") at a price of $0.10 per Unit where each Unit consists of one common share (a \"Common Share\") of the Company and one half of one common share purchase warrant (a \"Warrant\") of the Company, where each whole Warrant entitles the holder to purchase one Common Share within two years at a price of $0.20 per Common Share.\n\n\n \nClosing of the First Tranche is subject to final TSX Venture Exchange approval. The Common Shares and Warrants issued in connection with the First Tranche are subject to a four-month hold period. \n\n\n \nThe Company paid finders' fees in connection with the closing of the First Tranche in the aggregate amount of $10,500 plus 105,000 Warrants, where each Warrant entitles the holder to purchase one Common Share by March 9, 2020 at $0.20 per Common Share.\n\n\n \nThe Company expects to complete a final tranche (the \"Final Tranche\") for additional proceeds prior to April 12, 2018, the date granted by the TSXV under the current terms of the offering. \n\n\n \nSonoro Energy Ltd. now has 62,902,301 Common Shares outstanding, 24.071,576 warrants outstanding and the Common Shares trade on the TSX Venture Exchange under the symbol SNV.\n\n \n \nThe Company also announces the resignation of Ryszard Kurr from the Board of Directors. The Company thanks Mr. Kurr for his valued contributions to Sonoro in the past and wishes him the best with his future endeavours. \n\n \n \nAbout Sonoro\n\n \n \nSonoro is an international oil and gas resource exploration and development company with a focus on Southeast Asia and its onshore Budong Budong production sharing contract in Sulawesi Indonesia. \n\n \n \nForward-looking Statements\n\n\n \nCertain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are ...