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

Sonoro Gold closed an oversubscribed, non‑brokered private placement raising C$12.2m to fund an aggressive development and exploration program at its Cerro Caliche gold project in Sonora, Mexico. The issue comprised ~50.8m units at C$0.24 each (one share + one warrant exercisable at C$0.32 for three years). Net proceeds will back a two‑phase, 50,000‑metre drilling campaign focused on higher‑grade targets and northern extension drilling, and support permitting for an open‑pit heap‑leach operation targeting an initial 10‑year run at up to 16,000 tpd. Insider participation (~15.7m units, ~C$3.8m) signals management confidence; the financing reduces near‑term funding risk and is positive for the company’s drilling and development timetable, with limited direct impact on the broader gold price.