Business
Sonoro Energy Ltd. Closes Financing
(TheNewswire) Calgary, Alberta – TheNewswire – May 25, 2023 - Son...
About this update from Sonoro Energy Ltd.
[{"type":"text","content":"Sonoro Energy Ltd. Closes Financing\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Calgary, Alberta\n \n \n –\n \n \n TheNewswire – May 25, 2023 -\n \n \n Sonoro Energy Ltd. (“Sonoro” or the\n“Company”) (TSXV:SNV.H) is pleased to announce that t\n \n \n he Company has completed and closed its previously announced\nnon-brokered private placement of common share/warrant unit financing\nfor CAD$500,000, the maximum permitted under NEX regulations.\n \n \n \n \n Each unit consists of one $0.015 common share (a\n“Common Share”) and one common share purchase warrant (a\n“Warrant”) of the Company, where each whole Warrant entitles the\nholder to purchase one Common Share within 12 months at a price of\n$0.05 per Common Share. A total of up to 33.33 million units will be\nissued for total proceeds of $500,000. The securities issued in\nconnection with the Offering will be subject to a four month and one\nday hold period from the date of issuance of such securities.\n \n \n \n \n The Company intends to use the proceeds for funding due\ndiligence, legal and consulting costs and general working capital\npurposes. Management and Insiders will be subscribing for a portion of\nthe private placement.\n \n \n \n \n Sonoro also announces that it has extended the term of\nits 5,157,921 warrants priced at 7 and 7.5 cents currently expiring\nMay 26, 2023 and 7,000,000 10 cent warrants currently expiring May 31,\n2023. Both tranches of warrants will be extended for one year. The\nextension is subject to final approval of the TSXV. The Company has\nalso made an application to the TSXV to graduate back to the TSXV.\n \n \n \n \n Sonoro is in the final stages of completing the\nagreements for the Western Canadian Sedimentary Basin oil and gas\nproject previously announced in a May 1, 2023 press release. If\ncompleted, Sonoro will provide further details at this time.\n \n \n \n \n Forward-looking\nStatements\n \n \n \n \n Certain information in this news release constitutes\nforward-looking statements under applicable securities laws. Any\nstatements that are contained in this news release that are not\nstatements of historical fact may be deemed to be forward-looking\nstatements. Forward-looking statements are often identified by terms\nsuch as \"may,\" \"sh...