Closes Oversubscribed Private Placement Financing
Suite 920 – 1112 WEST PENDER STREET
VANCOUVER, BC, V6E 2S1
AUGUST 28, 2023 NEWS RELEASE TSXV: SDCU
SONORAN DESERT COPPER CORPORATION
CLOSES OVERSUBSCRIBED PRIVATE PLACEMENT FINANCING
Vancouver, B.C.: Sonoran Desert Copper Corporation (“SDCU'' or the “Company”) (TSXV: SDCU)
announces the closing of the Company’s $0.05 Unit Private Placement Financing.
CLOSING $0.05 UNIT PRIVATE PLACEMENT FINANCING
Further to its May 17, 2023 news release, the Company has filed documents with the TSX Venture
Exchange (the “Exchange”) seeking final approval to close its non-brokered private placement offering for
aggregate gross proceeds of $818,500. Subject to Exchange approval, the Company will issue 16,370,000
$0.05 Units, each unit consisting of one common share of the Company and one common share purchase
warrant, with each warrant being exercisable for an additional common share at an exercise price of 10
cents for 36 months. The warrants are subject to the right of the Company to accelerate the exercise of
the warrants if the shares of the Company trade at or above 50 cents for a period of 10 consecutive trading
days. Final closing of the financing is subject to Exchange approval. All securities issued pursuant to the
financing are subject to a four-month hold.
Nexvu Capital Corp., a company beneficially owned by insiders of the Company, has subscribed for
1,200,000 Units, or $60,000, that portion of the financing a “related party transaction” as such term is
defined under MI 61-101 – Protection of Minority Security Holders in Special Transactions. The Company
is relying on exemptions from the formal valuation requirement of MI-61-101 under sections 5.5(a) and
(b) of MI 61-101 in respect of the transaction as the fair market value of the transaction, insofar as it
involves the interested party, is not more than 25% of the Company’s market capitalization.
Cash finders’ fees totalling $3,440 have been paid and 68,800 non-transferable broker warrants
exercisable at $0.10 for 36 months have been issued to Leede Jones Gables Inc.
Proceeds from the above financing will be used for general working capital and for the company's 4H
Project located in Sonora, Mexico (see the company's Feb. 9, 2023, news release for details on the 4H
project). The Company has commissioned a National Instrument 43-101-compliant report in regard to the
4H Project and upon receipt will be filing final documents with the TSX Venture Exchange for approvals.
About Sonoran Desert Copper Corporation
Sonoran Desert Copper Corporation is focused on the development of its energy metals project portfolio
including the South Uchi lithium project in Red Lake, Ontario, Canada and the Cuatro Hermanos copper /
molybdenum porphyry project in Sonora, Mexico (the “4H Property”)
Suite 920 – 1112 WEST PENDER STREET
VANCOUVER, BC, V6E 2S1
http://primemeridianresources.com/
On behalf of the Board of Directors of
SONORAN DESERT COPPER CORPORATION
"Brian Leeners"
Brian Leeners, CEO & Director
[email protected] / +1 604-862-4184 (WhatsApp)
FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
The information contained herein contains "forward-looking statements" within the meaning of applicable
securities legislation. Forward-looking statements relate to information that is based on assumptions of
management, forecasts of future results, and estimates of amounts not yet determinable. Any statements
that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events
or performance are not statements of historical fact and may be "forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.