Sonoro Closes $500,000 Private Placement Financing
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 CLOSES $500,000 PRIVATE PLACEMENT FINANCING
VANCOUVER, Canada, October 30, 2018, Sonoro Metals Corp., (TSXV: SMO | OTCQB: SMOFF | FRA:
23SP), (“Sonoro” and the “Company”), announces that the Company has completed a non-brokered private
placement of 5,000,000 units (the “Units”) at a price of $0.10 per Unit, for gross pro ceeds of $500,000 (the
“Financing”), previously announced on October 15, 2018 . Each Unit consist s of one share and one non -
transferable share purchase warrant (each whole warrant a “Warrant”). E ach Warrant entitle s the holder to
purchase one additional common share at an exercise price of $0.15 per Warrant share for two years, subject to
the right of Sonoro to accelerate the expiry of the Warrants, if at any time after April 30, 2019, its common
shares close at a price at or above $0.30 per share (as quoted on the TSX Venture Exchange or such other
securities exchange on whic h the Company’s shares are then quoted or listed for trading) for more than 20
consecutive trading days. Sonoro may, within five days of the occurrence of such acceleration event, provide
notice to the holders of the Warrants that the Warrants will expire early, namely 30 calendar days after the date
of such notice. No finders’ fees were paid in connection with the financing.
All securities issued in the Financing will be subject to a hold period expiring March 1, 2019. Sonoro now has
30,027,586 common shares issued and outstanding.
"We experienced very strong demand for the Financing and are pleased that our investors are very supportive of
our focus on the exploration programs in Mexico,” said Kenneth MacLeod, President and CEO of Sonoro.
“Proceeds from the Financing will be applied toward future exploration programs at Cerro Caliche should results
from the recently initiated drilling program support such an action.”
Pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holder in Special Transaction (“MI
61-101”), which is incorporated by reference into the policies of the TSX Venture Exchange under Policy 5.9,
the above-described Financing constitutes a “related party transaction” as a result of certain directors and officers
of Sonoro (the "Related Parties") being subscribers to the financing to the extent of approximately 7.6%. Sonoro
is relying upon the formal valuation exemption in Section 5.5(a) of MI 61-101 and upon the minority approval
exemption in Section 5.7(a) of MI 61-101. Such exemptions are available to Sonoro as, at the time the subject
transaction was agreed to, neither the fair market value of the subject matter of, nor the fair market value
consideration for the transaction, insofar as it involves interested parties, exceeds 25% of Sonoro’s market
capitalization. As a related party transaction, the foregoing additional disclosures are provided as required by
Section 5.2 of MI 61-101.
The Financing is subject to final acceptance of the TSX Venture Exchange.
About Sonoro Metals Corp.
Sonoro Metals Corp. is an exploration and development company with two precious metals properties in Sonora,
Mexico and one in Alaska, USA. Sonoro’s skilled exploration team in Mexico is headed by Hermosillo -based
geologist Melvin Herdrick, with 45 years of mine related experience, including 10 years as Chief Geologist for
Phelps Dodge, Mexico and 7 years as Vice President, Exploration for Pediment Gold in Mexico until its takeover
by Argonaut Gold in 2011. Sonoro’s Chief Geologist and Qualifying Person is Stephen Kenwood, with over 20
years of experience in mineral exploration and development.
On behalf of the Board of SONORO METALS CORP.
Per: “Kenneth MacLeod”
KENNETH MACLEOD
President & CEO
For further information, please contact:
Sonoro Metals Corp. - Corporate Communications:
Bill Campbell – Tel: (604) 565-5609
Email: [email protected]
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL
THERE BE ANY SALE OF SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE
WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Ven ture
Exchange) accept responsibility for the adequacy or accuracy of this release.