Files FOR Closing of $1 Million Private Placement
JULY 08, 2024 NEWS RELEASE TSXV: SDCU
SONORAN DESERT COPPER CORPORATION
FILES FOR CLOSING OF $1 MILLION PRIVATE PLACEMENT
Vancouver, B.C.: Sonoran Desert Copper Corporation (“SDCU'' or the “Company”) (TSXV: SDCU) is
pleased to announce that the Company has filed documents with the TSX Venture Exchange seeking
approval to close its private placement financing (the “Financing”) for aggregate gross proceeds of
$1,010,750. The Financing consists of 10,107,500 units (the “Units”), each Unit consisting of one common
share of the Company and one common share purchase warrant (a “Warrant”), with each Warrant being
exercisable for one additional common share of the Company at an exercise price of $0.25 for 24 months
from the date of issue, subject to the right of the Company to accelerate the exercise period to 30 days if,
after the expiry of the 4 month hold, common shares of the Company close at or above $ 0.50 for 10
consecutive trading days.
There are three (3) insiders subscribing to the Financing for $150,000 or 1,500,000 Units, that portion of
the Financing is 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. All securities issued pursuant to the Financing
will be subject to a four-month and one-day hold period.
USE OF PROCEEDS
Project Payments $ 156,550
Work Programs $ 236,000
Accrued Expenditures $ 136,000
Legal Fees + Auditor $ 101,301
Operations & G&A $ 380,899
$ 1,010,750
ABOUT SONORAN DESERT COPPER CORPORATION
Sonoran Desert Copper Corporation is focused on securing, developing and monetizing materials assets
and technologies to build shareholder value.
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.