Sonoro Gold increases private placement to CAD $4 million

Sonoro Gold Corp. (TSXV: SGO) announced it is increasing its non-brokered private placement to 20,000,000 units for gross proceeds of CAD $4,000,000, up from the original offering announced on October 2.

The company cited investor demand as the reason for the increase. Each unit is priced at CAD $0.20 and consists of one common share and one warrant. The warrants allow holders to purchase additional shares at CAD $0.28 per share for three years following the closing.

Sonoro plans to use the net proceeds to fund development of its Cerro Caliche gold project in Sonora, Mexico, and for working capital. The company may pay finder's fees to registered securities dealers who assist in placing units, subject to TSX Venture Exchange policies.

All securities from the offering will be subject to a four-month plus one-day hold period in Canada from the closing date. The offering requires TSX Venture Exchange acceptance.

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

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