Business
Sonoro Energy Ltd provides an update on Corporate Matters
(via TheNewswire) March 9, 2020 - TheNewswire - Sonoro Energy Ltd (the "Corpora...
About this update from Sonoro Energy Ltd.
[{"type":"text","content":"Sonoro Energy Ltd provides an update on Corporate Matters(via TheNewswire)\n \n \nMarch 9, 2020 - TheNewswire - Sonoro Energy Ltd (the \"Corporation \"or \"Sonoro\") (TSXV:SNV) (OTC:SNVFF) announces that all of the 4,233,334 outstanding accelerated five cent warrants which were issued in connection with a Private Placement that closed on March 29, 2019 were exercised before the March 6, 2020 deadline. Each whole Warrant entitles the holder to purchase one Common Share of the Company at $0.05. The gross proceeds of from the exercise of Warrants will primarily be used for general corporate and working capital purposes.\n\n \n \nThe Corporation continues to progress on partnership developments and the work program for the Selat Panjang PSC in Indonesia. General maintenance at the facility has occurred and which includes road improvements and other site maintenance work. A full update on all project developments will be provided as soon as the Company has concluded these various aspects. \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 not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as \"may,\" \"should,\" \"anticipate,\" \"expects,\" \"estimates,\" \"seeks\" and similar expressions. In particular, without limiting the generality of the foregoing, this news release contains forward-looking information regarding the PSC.\n\n\n \nForward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals, changes in legislation including but not limited to income tax, environmental laws and regulatory matters, and ability to access sufficient capital from internal and external sources. Readers are cautioned that the foregoing list of factors is ...