Business
Sonoro Metals Announces $5.0 Million Unit Private Placement
VANCOUVER, British Columbia, July 23, 2020 (GLOBE NEWSWIRE) -- Sonoro Metals Corp. (TSXV: SMO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased
About this update from Sonoro Gold Corp
[{"type":"text","content":" VANCOUVER, British Columbia, July 23, 2020 (GLOBE NEWSWIRE) -- Sonoro Metals Corp. (TSXV: SMO | OTCQB: SMOFF | FRA: 23SP) (“Sonoro” or the “Company”) is pleased to announce that it will undertake a non-brokered private placement offering (the \"Offering\"), consisting of up to 22,727,273 units (the “Units”) at a price of C$0.22 per Unit, for gross proceeds of up to C$5,000,000. Each Unit will be 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 three years from the closing at an exercise price of $0.30 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. 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. The Offering is subject to TSX Venture Exchange acceptance. The net proceeds from the Offering will be used principally to fund Sonoro’s previously announced exploration and development plans at its Cerro Caliche Project located in Sonora, Mexico and project property maintenance payments, and secondarily for corporate and general administrative expenses. “Upon completion of the financing, we intend to immediately commence the deeper drill program, as the requisite permits are in place and both our technical team and the drill crews are based in Hermosillo and do not require any cross-border travel,” said Kenneth MacLeod, President and CEO of Sonoro. About Sonoro Metals Corp. Sonoro is a publicly listed mineral exploration and development company with two exploration stage precious metal properties in Sonora State, Mexico. The Company’s current principal focus, under the leadership of its management team, with proven track records for the discovery and development of natural resource deposits, is the pursuit of a dual-track strategy for its Cerro Caliche Project – developing a heap leach pilot operation, while continuing an aggressive exploration program to potentially expand the project’s size. On behalf of the Board of SONORO METALS CORP. Per: “Kenneth MacLeod” Kenneth MacLeod President & CEO For further information, pleas...