Business
Sonoro Updates on Private Placement Offering and Share Swap
(via TheNewswire) March 6, 2018 / TheNewswire / Calgary, Alberta - Sonoro Energy ...
About this update from Sonoro Energy Ltd.
[{"type":"text","content":"Sonoro Updates on Private Placement Offering and Share Swap(via TheNewswire)\n\n \nMarch 6, 2018 / TheNewswire / Calgary, Alberta - Sonoro Energy Ltd. (\"Sonoro\" or \"the Company\") (TSX-V: SNV) announces that as part of its non-brokered private placement (the \"Offering\") previously announced on February 21, 2018, an officer and director of the Company (the \"Insider\") has arranged for the sale of 4,000,000 common shares (\"Common Shares\") of the Insider's personal holdings at a price in context with the market through the facilities of the TSX Venture Exchange (the \"Swap\"). The Insider intends to use 100% of the proceeds from the Swap to participate in the Offering. Sonoro intends to close the Offering during the week of March 5, 2018, subject to market conditions. \n\n\n \nOffering units (\"Units\") consisting of one Common Share and one half of one Common Share purchase warrant (\"Warrant\") will be priced at $0.10 per Unit. Each whole Warrant entitles the holder to purchase one Common Share within two years from the closing date of the Offering at a price of $0.20 per Common Share. \n\n\n \nThe Offering is being made pursuant to certain Canadian prospectus exemptions, including the \"existing securityholder\" exemption and the \"purchasers advised by investment dealers\" exemption, where applicable. Existing shareholders of the Company who wish to subscribe for Units pursuant to the Offering, who held Common Shares of the Company as of February 20, 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 information set forth below in order to participate in the Offering. \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. The Company has recently finished drilling the LG-1 Updip well and discovered hydrocarbons, potentially making this a new attractive basin for oil and gas exploration and production. \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 t...