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Sonoro Gold Increases Private Placement to $2.4 Million
VANCOUVER, Canada, June 21, 2022 (GLOBE NEWSWIRE) -- Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to announce
About this update from Sonoro Gold Corp
[{"type":"text","content":" VANCOUVER, Canada, June 21, 2022 (GLOBE NEWSWIRE) -- Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to announce that, in response to strong investor demand, the Company is increasing its previously announced non-brokered private placement (the \"Offering\") from 13,500,000 Units to 16,000,000 Units for gross proceeds of up to $2,400,000. Directors and officers of the Company are expected to participate in the Offering by subscribing for 4,516,828 Units for gross proceeds of $677,524 constituting a related party transaction pursuant to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. To the extent that the transactions constitute a related party transaction, Sonoro intends to rely on exemptions from the associated formal valuation and shareholder approval requirements. The Offering price remains $0.15 per Unit, each comprised of one Sonoro Common share and one Common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional Sonoro Common share for a period of two years from the closing at an exercise price of $0.225 per share. The Company intends to pay finder’s fees as permitted under the policies of the TSX Venture Exchange in respect of Units placed with the assistance of registered securities dealers. The Offering is subject to TSX Venture Exchange acceptance. All securities issued and issuable in connection with the Offering will be subject to a 4-month hold period in Canada from the closing date. About Sonoro Gold Corp. Sonoro Gold Corp. is a publicly listed exploration and development Company holding the near-development-stage Cerro Caliche project and the exploration-stage San Marcial project in Sonora State, Mexico. The Company has highly experienced operational and management teams with proven track records for the discovery and development of natural resource deposits. On behalf of the Board of Sonoro Gold Corp.Per: “Kenneth MacLeod” Kenneth MacLeod President & CEO For further information, please contact: Sonoro Gold Corp. - Tel: (604) 632-1764 Email: [email protected] This press release may contain \"fo...