Sonoro Gold Completes Oversubscribed Funding Round

Sonoro Gold (TSE:SGO) has released an update.

Sonoro Gold Corp. has successfully completed an oversubscribed private placement, raising C$875,000 through the sale of 17,5 million units to fund its Cerro Caliche gold project in Mexico and for general corporate purposes. The units, priced at C$0.05, include Sonoro common shares and warrants, with the latter allowing additional share purchases at C$0.07 for three years. The raised capital will propel the development of the Cerro Caliche project, which has demonstrated significant potential for a profitable open-pit mining operation.

For further insights into TSE:SGO stock, check out TipRanks’ Stock Analysis page.