Calgary (pcJ News Briefs) – Sonoro Energy Ltd. (TSX-V: SNV) intends to close a non-brokered private placement of up to 110,000,000 units at $0.03 per unit for gross proceeds of up to $3,300,000.
Each unit consists of one common share and one half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at $0.05 per share for a period of two years.
The offering is being made pursuant to certain Canadian prospectus exemptions, including the “existing securityholder” exemption and “purchasers advised by investment dealers” exemption, where applicable.
The offering is expected to close on or about April 18, 2017 but may close earlier or later or not at all.
Sonoro Energy is an international oil and gas resource exploration and development company with a focus on Southeast Asia and its onshore Budong Budong production sharing contract in Sulawesi Indonesia. The Company has commenced planning for a one to two well appraisal drilling program on the Budong Budong license offsetting the LG-1 well.
photo credit: Sonoro Energy