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 proceeds of $500,000 (the “Financing”), previously announced on October 15, 2018. Each Unit consists of one share and one nontransferable share purchase warrant (each whole warrant a “Warrant”). Each Warrant entitles 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 which 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.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s