Sorrento Resources Announces $375,000 Financing | SRSLF Stock News

4 days ago

Sorrento Resources (CSE: SRS, OCTQB: SRSLF) announces a $375,000 private placement.
Funds will support exploration at Lord Baron and Harmsworth projects in Newfoundland.
Private placement includes 5 million units with warrants exercisable at $0.15 for 36 months.

Sorrento Resources Ltd. (CSE: SRS, OCTQB: SRSLF) has revealed plans for a non-brokered private placement aimed at raising $375,000. The placement involves the sale of 5,000,000 units at a price of $0.075 per unit. Each unit comprises one common share and half of one share purchase warrant, with the full warrants exercisable at $0.15 for a period of 36 months.

The proceeds from this placement will be allocated to exploration activities at the Lord Baron and Harmsworth projects. Additionally, funds will be used to repay outstanding loans and for general working capital. Sorrento Resources is focused on precious and base metal properties in Newfoundland, including the Wing Pond, Lord Baron, PEG lithium, and Harmsworth (VMS) projects.

It is important to note that the placement is subject to regulatory and exchange approval, and potential finder's fees may be applicable. This development underscores Sorrento Resources' commitment to advancing its exploration endeavors within the competitive mining sector.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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