Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • 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.

More From The Market Herald

" Rock Tech Lithium (TSXV:RCK) announces results from Lithium Hydroxide Converter engineering study

Rock Tech Lithium (RCK) has announced the results of an engineering study for the merchant lithium hydroxide converter and refinery facility in Guben, Germany.

" Search Minerals (TSXV:SMY) announces $5M private placement

Search Minerals (SMY) is conducting a non-brokered private placement for gross proceeds of up to $5,000,000.

" DLP Resources (TSXV:DLP) updates proposed private placement

DLP Resources (DLP) intends to complete an offering of up to 2,000,000 FT units for gross proceeds of $500,000.

" Advance United Holdings (CSE:AUHI) launches the Advance United Marketplace

Advance United Holdings (AUHI) has introduced a platform for owners of mineral commodities to connect with developers and producers.