Sonoro Gold Secures $700K for Cerro Caliche Project Growth
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Sonoro Gold Corp. Secures $700,000 Investment for Growth
In an exciting announcement, Sonoro Gold Corp. has confirmed a fully committed private placement, generating C$700,000 through the sale of 14 million units at C$0.05 each. This significant backing showcases the confidence in the company and its ongoing projects. Investors will receive one common share and a purchase warrant for each unit, enabling them to benefit from future growth.
Understanding the Offering Structure
Each unit sold in this offering will consist of a Sonoro common share alongside a common share purchase warrant. These warrants provide holders the right to purchase additional shares at C$0.07 within a three-year timeframe following the closure of this private placement.
Substantial Impact on Development Initiatives
Subject to acceptance by the TSX Venture Exchange, this funding will be vital for advancing the company’s Cerro Caliche gold project located in Mexico. The proceeds are earmarked for both project development and bolstering working capital, ensuring that Sonoro has the necessary resources to pursue its strategic objectives efficiently.
Related Party Transactions and Compliance
An interesting aspect of this funding round is the anticipated participation of certain directors and officers of the company. This involvement qualifies as a related party transaction, governed by specific exchange policies aimed at protecting minority shareholders. Sonoro Gold Corp. confirms that it will utilize exemptions under MI 61-101, allowing the transaction to proceed without a formal valuation or minority shareholder approval, given the fair market value remains below 25% of the company's overall market capitalization.
About Sonoro Gold Corp.
Sonoro Gold Corp. specializes in exploration and development, notably holding the Cerro Caliche project currently in development. Additionally, they are advancing the San Marcial project in Mexico. With a management team boasting extensive experience in the resource sector, the company is committed to discovering and developing valuable natural resource deposits.
Stay Connected with Sonoro Gold
Engaging with their audience is a priority for Sonoro Gold Corp. They encourage interested parties to remain updated on company progress and project developments through various online platforms, enhancing community interaction and transparency.
Contact Information for Inquiries
For further details, individuals can reach Sonoro Gold Corp. at (604) 632-1764 or via email at info@sonorogold.com. Engagement with the community is critical, and the company values every inquiry.
Frequently Asked Questions
What is the purpose of the private placement by Sonoro Gold?
The private placement aims to raise funds for the development of the Cerro Caliche project and increase working capital for the company.
How many units are being offered in the private placement?
Sonoro Gold is offering a total of 14 million units at a price of C$0.05 each.
What incentives do investors get by participating in the offering?
Investors receive one common share and a share purchase warrant for each unit, with the warrant allowing them to buy additional shares at C$0.07 for three years.
Will management participate in the offering?
Yes, certain directors and officers are expected to participate, which will be treated as a related party transaction.
What projects does Sonoro Gold Corp. focus on?
Sonoro Gold is focused on the Cerro Caliche project and the exploration-stage San Marcial project, both located in Mexico.
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