Sonoro Gold Corp (TSX-V:SGO, OTCQB:SMOFF) told investors it has now closed the final tranche of its over-subscribed non-brokered private placement, raising additional gross proceeds of C$616,079.
Total proceeds from the raise amounted to C$1,167,500, with 23.35 million equity units priced at $0.05 apiece.
Sonoro's directors and officers participated in the final tranche by subscribing for 4,983,500 units for gross proceeds of C$249,175.
The injection of funds is earmarked for the ongoing development of the company’s Cerro Caliche gold project in Sonora, Mexico.