Business
Sonoro Energy Announces Closing of $5.1 Million Non-Brokered Private Placement
Dec. 22, 2010 (Canada NewsWire Group) -- NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERV...
About this update from Sonoro Energy Ltd.
[{"type":"text","content":"\n\n\n\n Dec. 22, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES\n\n\nTSX Venture Exchange Symbol: SNV\n\n\nCALGARY, Dec. 22 /CNW/ - Sonoro Energy Ltd. ("Sonoro" or the "Company")\n (TSX-V:SNV) is pleased to announce the closing of its non-brokered\n private placement.  Sonoro issued 20,420,000 units at a price of $0.25\n per unit for gross proceeds of Cdn $5,105,000. Each unit is comprised\n of one common share ("common share") and one-half of one warrant, with\n each whole warrant exercisable into one common share for a period of\n one year after closing at an exercise price of $0.50 per share. \n\n\nSonoro paid finders' fees in connection with this private placement\n totalling $139,485. Management and insiders subscribed for over\n 4,000,000 units ($1,000,000) under the private placement.\n\n\nThe proceeds from the private placement will be used to advance the\n Company's project in the Republic of Iraq, including shallow drilling\n activities, seismic and data acquisition, topping facilities\n engineering and for general working capital requirements, including the\n ongoing development of the Company's technologies.\n\n\nThe Company's previously announced $10 million brokered private\n placement (the "Offering") is in addition to this non-brokered private\n placement and is scheduled to close in January 2011. In the eve...