” Sonoro Metals Announces $5.0 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 METALS ANNOUNCES $5.0 MILLION UNIT PRIVATE PLACEMENT
VANCOUVER, Canada, July 23, 2020 – Sonoro Metals Corp. (TSXV: SMO | OTCQB: SMOFF | FRA: 23SP)
(“Sonoro” or the “Company”) is pleased to announce that it will undertake a non-brokered private
placement offering (the "Offering"), consisting of up to 22,727,273 units (the “Units”) at a price of
C$0.22 per Unit, for gross proceeds of up to C$5,000,000. Each Unit will be 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 three years from the closing at an
exercise price of $0.30 per share.
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 is subject to TSX Venture Exchange acceptance.
The net proceeds from the Offering will be used principally to fund Sonoro’s previously announced
exploration and development plans at its Cerro Caliche Project located in Sonora, Mexico and project
property maintenance payments, and secondarily for corporate and general administrative expenses.
“Upon completion of the financing, we intend to immediately commence the deeper drill program, as
the requisite permits are in place and both our technical team and the drill crews are based in
Hermosillo and do not require any cross-border travel,” said Kenneth MacLeod, President and CEO of
Sonoro.
About Sonoro Metals Corp.
Sonoro is a publicly listed mineral exploration and development company with two exploration stage
precious metal properties in Sonora State, Mexico. The Company’s current principal focus, under the
leadership of its management team, with proven track records for the discovery and development of
natural resource deposits, is the pursuit of a dual-track strategy for its Cerro Caliche Project –
developing a heap leach pilot operation, while continuing an aggressive exploration program to
potentially expand the project’s size.
On behalf of the Board of SONORO METALS CORP.
Per: “Kenneth MacLeod”
Kenneth MacLeod
President & CEO
For further information, please contact:
Sonoro Metals 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) the proposed development and financing of the Company’s exploration and development
plans for its Cerro Caliche Project, including the development of a heap leach pilot operation; and (ii) the Company’s intention
to undertake a Unit private placement financing. 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.