Sonoro Gold Corp (TSX-V:SGO, OTCQB:SMOFF) announced a non-brokered private placement to raise C$500,000 through the issuance of close to 5.6 million units at C$0.09 per unit.
Each unit includes one common share and one warrant, exercisable at C$0.14 for two years.
The funds will support the development of the Cerro Caliche gold project in Sonora, Mexico, and provide working capital.
The offering, subject to TSX Venture Exchange approval, involves a four-month holding period for securities issued.
Sonoro Gold is an exploration and development company advancing the Cerro Caliche and San Marcial projects in Sonora, Mexico.