Sonoro Gold closes $12.2M private placement to advance Mexico gold project

Sonoro Gold Corp (TSX-V:SGO, OTCQB:SMOFF, FRA:23SP) has closed an oversubscribed, non-brokered private placement, raising gross proceeds of C$12.2 million to fund a major drilling campaign at its Cerro Caliche gold project in Sonora, Mexico. The offering comprised just over 50.8 million units priced at $0.24 per unit, each consisting of one common share and one warrant exercisable at $0.32 for three years from closing.