Sonoro Announces Private Placement Offering to Fund Further Activities at Budong Budong

About this update from Sonoro Energy Ltd.

[{"type":"text","content":"Sonoro Announces Private Placement Offering to Fund Further Activities at Budong Budong(via TheNewswire)\n\n \nCalgary, Alberta / TheNewswire / January 26, 2018 - Sonoro Energy Ltd. (\"Sonoro\" or \"the Company\") (TSX-V: SNV) announces \n\n\n \nthat it intends to raise up to $4,500,000 by way of a non-brokered private placement (the \"Offering\") of units, where a unit (a \"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. The Unit will be priced at $0.13 per share which represents a 23.5% discount from the closing price on January 24, 5018. Each whole Warrant entitles the holder to purchase one Common Share within two years from the Closing Date (as hereinafter defined) of the Offering at a price of $0.20 per Common Share. \n\n\n \nAs part of this non-brokered financing, warrants are subject to an acceleration clause. This clause states that if, four months and one day after the warrants are issued, the closing price of the common shares of the Company, on the principal market on which such shares trade, is equal to, or exceeds, C$0.30 for 10 consecutive trading days (with the 10th such trading date hereafter referred to as the \"Eligible Acceleration Date\"), the warrant expiry date shall accelerate to a date 20 calendar days after issuance of a press release by the Corporation announcing the reduced warrant term--provided, no more than five business days following the Eligible Acceleration Date, that, the press release is issued; and notices are sent to all warrant holders.\n\n\n \nThe Offering is being made pursuant to certain Canadian prospectus exemptions, including the \"existing securityholder\" exemption and \"purchasers advised by investment dealers\" exemption, where applicable. Both the \"existing securityholder\" and \"purchasers advised by investment dealers\" exemptions are collectively referred to as the \"Existing Secuityholder and Retail Investor Exemptions\". Existing shareholders of the Company who wish to subscribe for Units pursuant to the Offering, who held common shares of the Company as of January 25, 2018 and who continue to hold common shares of the Company, and who are permitted to subscribe under the \"existing securityholder\" exemption should contact the Company pursuant to the contact informat...

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