Business
Update on Closing of Non-Brokered Private Placement, Corporate Acquisition and Option Agreement
(via Thenewswire.ca) Calgary, Alberta / TheNewswire / May 31 2016 - Sonoro Energy Lt...
About this update from Sonoro Energy Ltd.
[{"type":"text","content":"Update on Closing of Non-Brokered Private Placement, Corporate Acquisition and Option Agreement(via Thenewswire.ca)\n\n \nCalgary, Alberta / TheNewswire / May 31 2016 - Sonoro Energy Ltd. (\"Sonoro\" or the \"Company\") (TSXV: SNV) hereby provides an update to the April 26, 2016 news release and planned closing for the non-brokered private placement (the \"Offering\"), the proposed acquisition of all of the issued and outstanding shares of Stockbridge Oil and Gas Ltd. (\"Stockbridge\") (the \"Transaction\") and the Option Agreement (the \"Option\").\n\n \n \nThe Company and Stockbridge previously anticipated closing the Offering, the Transaction and the Option on or before May 30, 2016. While the necessary documents for closing are near completion, Sonoro and Stockbridge have agreed to delay the closing to ensure sufficient time to receive all of the documents for closing. Sonoro and Stockbridge anticipate closing the Offering, the Transaction and the Option on or before Wednesday June 8, 2016. \n\n \n \nAbout Sonoro\n\n \n \nSonoro is an international oil and gas resource exploration and development company. The Company's primary focus had been on its asphalt license agreement in the Salah ad Din province. With this license under Force Majeure since July 3, 2014 and requiring additional federal approval, the Company is refocusing its efforts to Southeast Asia in connection with the Transaction.\n\n \n \nForward-looking Statements\n\n\n \nThis press release contains \"forward-looking statements\" which may include estimates of future production, cash flows and earnings, business plans for the development of markets and the estimated amounts and timing of capital expenditures, the completion of capital raising and other statements about future events (often, but not always, using words or phrases such as \"expects\", \"anticipates\" or \"intends\" or stating that certain events or results \"may\" be achieved). \n\n\n \nForward-looking statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties, which could cause actual results to differ materially from those reflected in the statements. Forward-looking statements are based on the estimates and opinions of the management team at the time the statements are made. \n\n\n \nAlthough the Company believes that the expectation...