” Sonoro GOLD Announces Addition of $0.6 Million Overallotment Option to $2.0 Million Unit Private Placement
“THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION
TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES”
SONORO GOLD ANNOUNCES ADDITION OF $0.6 MILLION OVERALLOTMENT OPTION TO
$2.0 MILLION UNIT PRIVATE PLACEMENT
VANCOUVER, Canada, April 9, 2021 – Sonoro Gold Corp. (TSXV: SGO | OTCQB: SMOFF | FRA: 23SP)
(“Sonoro” or the “Company”) is pleased to announce that, in response to strong investor demand, it
is increasing its non-brokered private placement first announced on March 29 (the "Offering") by
providing for an overallotment option of up to 30% (3,333,333 Units) over and above the 11,111,111
Units previously announced. The Offering price remains $0.18 per Unit, each comprised of one Sonoro
Common share and one Common share purchase warrant. Each warrant will entitle the holder thereof
to purchase one additional Sonoro Common share for a period of two years from the closing at an
exercise price of $0.30 per share. The Offering, if fully subscribed, will yield gross proceeds of
$2,000,000, with the potential to add up to $600,000 of additional proceeds under the overallotment
option.
The Company intends to pay finder’s fees as permitted under the policies of the TSX Venture Exchange
in respect of Units placed with the assistance of registered securities dealers. All securities issued and
issuable in connection with the Offering will be subject to a 4-month hold period in Canada from the
closing date. The Offering, including the overallotment option, is subject to TSX Venture Exchange
acceptance.
The net proceeds from the Offering will be used principally to fund Sonoro’s ongoing development
plans at its Cerro Caliche Gold Project located in Sonora, Mexico and project property maintenance
payments, and secondarily for corporate and general administrative expenses.
About Sonoro Gold Corp.
Sonoro Gold Corp. is a publicly listed exploration and development company with a portfolio of
exploration-stage precious metal properties in Sonora State, Mexico. The Company has highly
experienced operational and management teams with proven track records for the discovery and
development of natural resource deposits.
On behalf of the Board of SONORO GOLD CORP.
Per: “Kenneth MacLeod”
Kenneth MacLeod
President & CEO
For further information, please contact:
Sonoro Gold Corp. - Tel: (604) 632-1764
Email: [email protected]
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation,
relating to, among other things: (i) completion of the above-described unit private placement, and the contemplated use of
proceeds raised, (ii) completion of the column leach tests, completion of an updated 43-101 resource report and a PEA for the
Cerro Caliche project, and (iii) a possible production decision for the Company’s Cerro Caliche project. Although the Company
believes that such statements are reasonable based on current circumstances, it can give no assurance that such expectations
will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not
always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims,"
"potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may,"
"can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions
that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date
the statements are made and they involve a number of risks and uncertainties, including the risks that the Company will not
be able to successfully sell any or all of the Units; the Company will not be able otherwise to secure the financing necessary
to fund its proposed exploration and development of its Cerro Caliche Project, or to fund its other project exploration and
development business; future exploration results will be unfavourable and will not support the proposed plan to build a heap
leach pilot operation or justify further exploration efforts; equipment failures, accidents, or external problems (e.g. civil unrest,
public health emergencies) may materially increase the Company’s business expenses or delay (or prevent altogether) the
execution of the Company’s business plans; and unanticipated changes in the legal, regulatory and permitting requirements
for the Company’s mineral exploration programs and development plans for its projects, at present, all of which are located
in Mexico, may prevent the Company from carrying out some or all of its business plans.
There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-
looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as required by law or the policies of the TSX Venture
Exchange. Readers are encouraged to review the Company’s complete public disclosure record on SEDAR at www.sedar.com
for further information regarding the Company’s business and the risks associated therewith.
“This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in
the United States. The securities referred to herein have not been and will not be registered under the Securities Act of
1933, as amended (the “Securities Act”), or with any securities regulatory authority of any state or other jurisdiction in the
United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or
benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act (“Regulation S”), except pursuant
to an exemption from or in a transaction not subject to the registration requirements of the Securities Act.”
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accept responsibility for the adequacy or accuracy of this release.