04:26:27 EDT Sat 20 Apr 2024
Enter Symbol
or Name
USA
CA



Sonoro Energy Ltd (4)
Symbol SNV
Shares Issued 123,277,151
Close 2023-05-24 C$ 0.025
Market Cap C$ 3,081,929
Recent Sedar Documents

Sonoro Energy closes $500,000 private placement

2023-05-25 15:36 ET - News Release

An anonymous director reports

SONORO ENERGY LTD. CLOSES FINANCING

Sonoro Energy Ltd. has completed and closed its previously announced non-brokered private placement of common share/warrant unit financing for $500,000, the maximum permitted under NEX regulations.

Each unit consists of one $0.015 common share (a "Common Share") and one common share purchase warrant (a "Warrant") of the Company, where each whole Warrant entitles the holder to purchase one Common Share within 12 months at a price of $0.05 per Common Share. A total of up to 33.33 million units will be issued for total proceeds of $500,000. The securities issued in connection with the Offering will be subject to a four month and one day hold period from the date of issuance of such securities.

The Company intends to use the proceeds for funding due diligence, legal and consulting costs and general working capital purposes. Management and Insiders will be subscribing for a portion of the private placement.

Sonoro also announces that it has extended the term of its 5,157,921 warrants priced at 7 and 7.5 cents currently expiring May 26, 2023 and 7,000,000 10 cent warrants currently expiring May 31, 2023. Both tranches of warrants will be extended for one year. The extension is subject to final approval of the TSXV. The Company has also made an application to the TSXV to graduate back to the TSXV.

Sonoro is in the final stages of completing the agreements for the Western Canadian Sedimentary Basin oil and gas project previously announced in a May 1, 2023 press release. If completed, Sonoro will provide further details at this time.

We seek Safe Harbor.

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