Sonoro Gold increases private placement to CAD $15 million

Sonoro Gold Corp. (TSXV: SGO) announced it is increasing its non-brokered private placement to 60 million units for gross proceeds of CAD $15 million, up from the original offering announced on May 20.

The Vancouver-based company will sell units at $0.25 each, with each unit consisting of one common share and one warrant. The warrants allow holders to purchase additional common shares at CAD $0.34 per share for three years following the closing date.

The company stated the increase was made in response to investor demand. All securities will be subject to a four-month hold period plus one day in Canada from the closing date, and the offering requires TSX Venture Exchange acceptance.

Sonoro Gold plans to use the net proceeds to advance development of its Cerro Caliche gold project in Sonora, Mexico, and for general working capital. The company may pay finder's fees to registered securities dealers who assist with unit placement, as permitted under TSX Venture Exchange policies.

Sonoro Gold is an exploration and development company that holds the development-stage Cerro Caliche project and the exploration-stage San Marcial project in Sonora State, Mexico.

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