Sonoro Gold closes oversubscribed CAD $12.2 million private placement

Sonoro Gold Corp. (TSXV: SGO) completed a non-brokered private placement raising CAD $12.2 million through the sale of 50,833,334 units at CAD $0.24 per unit. Each unit includes one common share and one warrant exercisable at CAD $0.32 per share for three years.

Company insiders purchased 15,652,834 units for CAD $3,756,680, representing approximately 31% of the total offering. The transaction constitutes a related party transaction under TSX Venture Exchange policies but qualified for exemptions from formal valuation and minority shareholder approval requirements.

All securities are subject to a four-month hold period ending August 25, 2026. The offering received conditional acceptance from the TSX Venture Exchange, pending final approval. No finder fees were paid in connection with the placement.

The company plans to use proceeds for a 50,000-meter drilling program at its Cerro Caliche gold project in Sonora, Mexico. The program will include infill drilling to explore higher-grade gold mineralization and expansion drilling at recently acquired northern extensions.

The drilling campaign will run alongside development of a proposed open-pit, heap leach mining operation currently in the permitting phase. The operation targets initial 10-year production at a capacity of up to 16,000 tonnes per day.

Sonoro Gold operates exploration and development projects in Sonora State, Mexico, including the development-stage Cerro Caliche project and exploration-stage San Marcial project.

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