SONORO METALS ANNOUNCES CLOSING OF $8 MILLION PRIVATE PLACEMENT INCLUDING THE FULLY SUBSCRIBED 60% OVERALLOTMENT OPTION

Sonoro_12082020

VANCOUVER, Canada, August 12, 2020 – Sonoro Metals Corp. (TSXV: SMO | OTCQB: SMOFF | FRA:23SP) (“Sonoro” or the “Company”) is pleased to announce that it has closed a non-brokered private placement for $8,000,000 with a lead order from Palisades Goldcorp Ltd. The private placement was initially announced on July 23, 2020 for 22,727,273 Units and was increased, as announced on July 31, 2020, by way of an overallotment option of up to 60% (i.e. an additional 13,636,364 Units) at
$0.22 per Unit, for total gross proceeds of $8,000,000 (collectively, the “Offering”). Each Unit consists of one Sonoro Common Share and one Share Purchase Warrant. Each warrant entitles the holder to purchase one additional Sonoro Common share for a period of three years from the closing date at an exercise price of $0.30 per share

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