Sonoro Gold Raises CAD $4.9 Million in Oversubscribed Private Placement to Advance Cerro Caliche Project

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

Sonoro Gold Corp. has closed an oversubscribed, non-brokered private placement raising CAD $4.9 million through the issuance of 24.5 million units at $0.20 per unit, each comprising one common share and a three-year warrant exercisable at $0.28. The financing, which included significant insider participation and is subject to final TSX Venture Exchange approval and statutory hold periods, will fund the ongoing development and final permitting of the proposed open-pit, heap leach Cerro Caliche gold mine in Sonora, Mexico, as well as general working capital, strengthening Sonoro’s financial position as it advances toward potential production.

The most recent analyst rating on (TSE:SGO) stock is a Buy with a C$0.70 price target. To see the full list of analyst forecasts on Sonoro Gold stock, see the TSE:SGO Stock Forecast page.

More about Sonoro Gold

Sonoro Gold Corp. is a publicly listed exploration and development company focused on precious metals projects in Sonora State, Mexico, where it holds the development-stage Cerro Caliche gold project and the exploration-stage San Marcial project. The company is led by experienced operational and management teams with a track record in discovering and advancing natural resource deposits.

Average Trading Volume: 279,192

Technical Sentiment Signal: Buy

Current Market Cap: C$66.33M

See more data about SGO stock on TipRanks’ Stock Analysis page.