Sonoro Continues Discussions with China-Based Epc Companies and Potential Equity Investors
SONORO CONTINUES DISCUSSIONS WITH CHINA-BASED EPC COMPANIES AND
POTENTIAL EQUITY INVESTORS
VANCOUVER, Canada, February 3, 2020, Sonoro Metals Corp., (TSXV: SMO | OTCQB: SMOFF | FRA: 23SP),
(“Sonoro” or the “Company”), announces that discussions regarding project debt finance and engineering,
procurement and construction (“EPC”) contracts with China-based EPC companies continue to advance.
Pursuant to ongoing discussions with four China-bas ed EPC companies and potential equity investors,
Sonoro is pleased to provide the following update and plans to move forward.
As previously reported on July 23, 2019 and October 23, 2019, Sonoro’s Chairman, John Darch and
Director of Finance, Neil Maedel travelled to Tianjin and Beijing, China for a series of meetings with EPC
companies and potential equity investors, arranged and attended by Sonoro’s China representative, Dr.
Wei Qian, the founder and managing director of New Tigers Technologies (NTT), based in Suzhou, Jiangsu
Province, Peoples Republic of China.
Subsequently, one Memorandum of Understanding has been executed for project debt financing and EPC
services for the development and operation of the Company’s proposed Cerro Caliche Pilot Project. Three
additional MOU’s are currently under consideration and are expected to be executed in the coming
month once all technical reviews are completed. Ove r the past decade, two of the four EPC companies
have previously financed, and developed mining projects introduced by NTT.
Messrs. Darch and Maedel are currently scheduled to travel to Beijing, China, along with Dr. Qian, for
follow-up meetings with the EPC companies and potential equity investors during the week of February
16th. The purpose of these meetings is to finalize the details of the respective MOU’s together with
advancing details regarding the respective EPC comp anies’ site visits and project engineering,
procurement, construction and debt finance proposals.
However, due to the health concerns related to the novel coronavirus, the Chinese government has
restricted travel within the country and companies’ employees are being encouraged to work from their
respective residences. Consequently, should our planned trip to China be delayed, Dr. Wei will maintain
an active dialogue with the Senior Executives and Project Directors-Managers of each EPC company until
such time as the meetings can be rescheduled.
John M Darch, Chairman of Sonoro, commented "Sonoro management and employees would like to
emphasize our sympathy and solidarity with our frie nds, and the people of China during this difficult
time."
About Sonoro Metals Corp.
Sonoro Metals Corp. is a publicly listed exploratio n and development company with a portfolio of
exploration-stage precious metal properties in Sono ra State, Mexico. The Company has highly
experienced operational and management teams with p roven track records for the discovery and
development of natural resource deposits.
On behalf of the Board of SONORO METALS CORP.
Per: “John Darch”
JOHN DARCH
Chairman
For further information, please contact:
Sonoro Metals Corp. – John Darch, Chairman
Phone: (604) 632-1764
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.
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Exchange) accept responsibility for the adequacy or accuracy of this release.