Sonoro Gold closes $15.5M private placement for Mexico project

Sonoro Gold Corp. (TSXV: SGO) completed a private placement raising CAD $15.5 million through the sale of 62 million units at $0.25 each, according to a company statement. Each unit includes one common share and one warrant exercisable at CAD $0.34 for three years.

The Vancouver-based mining company paid $87,450 in finder's fees and issued 349,800 finder's warrants with the same terms as the unit warrants. Company insiders participated by purchasing 5.5 million units for $1.4 million.

Securities from the offering are subject to a four-month hold period ending October 11, 2026. The transaction received conditional acceptance from the TSX Venture Exchange pending final approval.

Sonoro plans to use proceeds to fund development of its Cerro Caliche gold project in Sonora, Mexico, and for working capital. The company recently began a 50,000-meter drilling program and acquired 11 additional mineral concessions at the site.

The company is advancing an open-pit, heap leach mining operation at Cerro Caliche, currently in the permitting phase. The proposed operation targets initial 10-year production with projected capacity of up to 16,000 tonnes per day.

Sonoro Gold operates development-stage Cerro Caliche and exploration-stage San Marcial projects in Sonora State, Mexico. The company trades on TSXV under SGO, on OTCQB as SMOFF, and on Frankfurt as 23SP.

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