Sonoro Gold Corp. Accomplishes Major Financial Milestone
Vancouver, Canada - Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP) is delighted to announce the successful closure of an oversubscribed, non-brokered private placement totaling 20,500,000 units at a price of $0.20 each. This substantial offering results in gross proceeds of CAD $4,100,000, demonstrating a robust interest from both existing and new investors in the company's growth potential.
Details of the Private Placement
Each unit in the private placement consists of one common share of Sonoro Gold and one common share purchase warrant. Each warrant grants the holder the right to purchase an additional share at an exercise price of CAD $0.28 per share for a period of three years following the closing date. In connection with this offering, Sonoro paid $10,500 in Finder's Fees and issued 52,500 non-transferable Finder's Warrants, also exercisable at $0.28 per share.
Regulatory Updates and Insider Participation
All securities issued in the private placement are subject to a hold period lasting four months plus one day, concluding on February 23, 2026. The offering is currently awaiting final acceptance from the TSX Venture Exchange after receiving conditional approval.
Notably, insiders of Sonoro participated in this funding by purchasing 2,007,297 units, amounting to gross proceeds of $401,459.40. This participation constitutes a related party transaction under TSX Venture Exchange Policy 5.9. The Company utilized exemptions from formal valuation and minority shareholder approval requirements owing to the transaction's size relative to its market capitalization.
Utilization of Proceeds
The proceeds from this private placement are earmarked for several strategic initiatives. Primarily, these funds will propel the ongoing development of the Cerro Caliche project in Mexico. This includes commissioning a new Preliminary Economic Assessment and finalizing payments associated with the Rosario option agreement, thereby securing full ownership of all Cerro Caliche mining concessions.
In addition, resources will indeed be allocated toward necessary payments for regional permits required for mining operations in Mexico. Another significant use of funds will be the proposed spin-off of the San Marcial gold-silver project into Sonoro’s fully owned subsidiary, Oronos Gold Corp.
About Sonoro Gold Corp.
Sonoro Gold Corp. stands out as an exploration and development company engaged in harnessing gold and silver resources in Mexico. With its Cerro Caliche project firmly established in the development phase and the San Marcial project in exploration, the company combines expert operational and management teams with a successful track record in natural resource discovery and development.
To keep abreast of Sonoro’s developments and insights, it invites the public to engage with its online communities across various platforms, including social media and its official website.
On behalf of the Board of SONORO GOLD CORP.
Per: “Kenneth MacLeod”
Kenneth MacLeod
President & CEO
Frequently Asked Questions
What was the total amount raised by Sonoro Gold Corp.?
Sonoro Gold Corp. raised a total of CAD $4,100,000 through an oversubscribed private placement.
How many units were issued in the private placement?
A total of 20,500,000 units were issued at $0.20 each.
What projects will benefit from the raised funds?
The funds will primarily support the Cerro Caliche project’s development and the spin-off of the San Marcial project.
What is the exercise price of the warrants?
The warrants have an exercise price of CAD $0.28 per share.
Who was involved in the private placement?
Insiders of Sonoro participated by subscribing for various units, totaling gross proceeds of over $401,000.
