Sonoro Gold closes oversubscribed $4.9M private placement

Sonoro Gold Corp. (TSXV: SGO) completed a private placement raising CAD $4.9 million through the sale of 24.5 million units at $0.20 per unit. Each unit includes one common share and one warrant exercisable at $0.28 per share for three years.

The offering was oversubscribed and conducted without broker involvement. No finder fees were paid in connection with the transaction. All securities are subject to a hold period ending May 1, 2026.

Company insiders participated by purchasing 2.215 million units for $443,000, representing a related party transaction under TSX Venture Exchange policies. The transaction qualified for exemptions from formal valuation and minority shareholder approval requirements as it did not exceed 25% of the company's market capitalization.

The net proceeds will fund ongoing development of the Cerro Caliche gold project in Sonora, Mexico, and general working capital. The project is in final permitting stages for a proposed open-pit, heap leach mining operation.

The offering received conditional acceptance from the TSX Venture Exchange and remains subject to final exchange approval. Sonoro Gold also trades on the OTCQB under ticker SMOFF and on the Frankfurt exchange as 23SP.

The company holds the development-stage Cerro Caliche project and exploration-stage San Marcial project, both located in Sonora State, Mexico.

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