- Sonoro Gold (SGO) will undertake a non-brokered private placement offering for gross proceeds of up to C$3,600,000
- The company will issue up to 20,000,000 units at a price of C$0.18 per unit
- Net proceeds will be used to fund a 10,000-meter drilling campaign at the company’s Cerro Caliche Gold Project in Sonora, Mexico
- Sonoro Gold Corp is an exploration and development company
- Sonoro Gold Corp. (SGO) is unchanged on the day, trading at C$0.185 per share at 12 pm ET
Sonoro Gold (SGO) will undertake a non-brokered private placement offering for gross proceeds of up to C$3,600,000.
The company will issue up to 20,000,000 units at a price of C$0.18 per unit, Each unit will include one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share for a period of two years from the closing at an exercise price of $0.30 per share.
Net proceeds will be used to fund a 10,000-meter drilling campaign at the company’s Cerro Caliche Gold Project in Sonora, Mexico.
Sonoro’s Chairman of the Board, John Darch, commented on the upcoming drilling program.
“The drilling program will proceed alongside the proposed development of a Heap Leach Mining Operation (HLMO) as outlined in the recently-completed Preliminary Economic Assessment (“PEA”). The objective of the drilling campaign is to expand the project’s oxide gold mineralization and target higher-grade, near-surface mineralization identified during a recent surface sampling program. Increasing the size and grade of the resource could potentially improve the economics of the project and extend operations.”
Sonoro Gold Corp is an exploration and development company with a portfolio of exploration-stage precious metal properties in Sonora State, Mexico.
Sonoro Gold Corp. (SGO) is unchanged on the day, trading at C$0.185 per share at 12 pm ET.