Sorrento Resources Announces $375,000 Financing
Sorrento Resources (CSE: SRS) (OCTQB: SRSLF) has announced a non-brokered private placement to raise $375,000 through the sale of 5,000,000 units at $0.075 per unit. Each unit includes one common share and half of one share purchase warrant, with whole warrants exercisable at $0.15 per share for 36 months.
The proceeds will fund exploration activities at the Lord Baron and Harmsworth projects, repay outstanding loans, and provide working capital. The company focuses on precious and base metal properties in Newfoundland, including Wing Pond, Lord Baron, PEG lithium, and Harmsworth (VMS) projects. The placement is subject to regulatory and exchange approval, with potential finder's fees payable.
Sorrento Resources (CSE: SRS) (OCTQB: SRSLF) ha annunciato un collocamento privato senza intermediari per raccogliere 375.000 $ tramite la vendita di 5.000.000 di unità a 0,075 $ ciascuna. Ogni unità comprende una azione ordinaria e mezza warrant, con warrant interi esercitabili a 0,15 $ per azione per 36 mesi.
I proventi finanzieranno le attività di esplorazione presso i progetti Lord Baron e Harmsworth, il rimborso di prestiti in sospeso e il capitale operativo. L’azienda si concentra su proprietà di metalli preziosi e di base a Terranova, inclusi i progetti Wing Pond, Lord Baron, PEG litio e Harmsworth (VMS). Il collocamento è soggetto all’approvazione normativa e delle borse, con possibili commissioni per intermediari.
Sorrento Resources (CSE: SRS) (OCTQB: SRSLF) ha anunciado una colocación privada sin intermediarios para recaudar 375,000 $ mediante la venta de 5,000,000 unidades a 0.075 $ por unidad. Cada unidad incluye una acción común y la mitad de un warrant, con warrants completos ejercitables a 0.15 $ por acción durante 36 meses.
Los fondos se destinarán a financiar actividades de exploración en los proyectos Lord Baron y Harmsworth, pagar préstamos pendientes y proveer capital de trabajo. La compañía se enfoca en propiedades de metales preciosos y básicos en Terranova, incluyendo Wing Pond, Lord Baron, PEG litio y Harmsworth (VMS). La colocación está sujeta a aprobación regulatoria y bursátil, con posibles honorarios para intermediarios.
Sorrento Resources (CSE: SRS) (OCTQB: SRSLF)는 중개인 없이 5,000,000 단위를 단가 0.075달러에 판매하여 375,000달러를 조달하는 비공개 배치를 발표했습니다. 각 단위에는 보통주 1주와 워런트 0.5주가 포함되며, 워런트는 36개월 동안 주당 0.15달러에 전부 행사할 수 있습니다.
자금은 Lord Baron 및 Harmsworth 프로젝트의 탐사 활동, 미지급 대출 상환, 운영 자금으로 사용될 예정입니다. 회사는 뉴펀들랜드의 귀금속 및 기본 금속 자산인 Wing Pond, Lord Baron, PEG 리튬, Harmsworth (VMS) 프로젝트에 집중하고 있습니다. 이번 배치는 규제 및 거래소 승인을 받는 것이 조건이며, 중개 수수료가 지급될 수 있습니다.
Sorrento Resources (CSE : SRS) (OCTQB : SRSLF) a annoncé un placement privé sans intermédiaire visant à lever 375 000 $ par la vente de 5 000 000 d’unités à 0,075 $ chacune. Chaque unité comprend une action ordinaire et une demi-warrant, les warrants entiers étant exerçables à 0,15 $ par action pendant 36 mois.
Les fonds serviront à financer les activités d’exploration des projets Lord Baron et Harmsworth, à rembourser des prêts en cours et à fournir du fonds de roulement. La société se concentre sur des propriétés de métaux précieux et de base à Terre-Neuve, notamment les projets Wing Pond, Lord Baron, PEG lithium et Harmsworth (VMS). Le placement est soumis à l’approbation réglementaire et boursière, avec des frais éventuels pour les intermédiaires.
Sorrento Resources (CSE: SRS) (OCTQB: SRSLF) hat eine nicht vermittelte Privatplatzierung angekündigt, um 375.000 $ durch den Verkauf von 5.000.000 Einheiten zu je 0,075 $ aufzubringen. Jede Einheit beinhaltet eine Stammaktie und eine halbe Kaufoption, wobei ganze Kaufoptionen für 36 Monate zum Preis von 0,15 $ pro Aktie ausübbar sind.
Die Erlöse werden zur Finanzierung von Explorationsaktivitäten bei den Lord Baron- und Harmsworth-Projekten, zur Rückzahlung ausstehender Darlehen und zur Bereitstellung von Betriebskapital verwendet. Das Unternehmen konzentriert sich auf Edel- und Basismetallvorkommen in Neufundland, darunter Wing Pond, Lord Baron, PEG Lithium und Harmsworth (VMS). Die Platzierung steht unter dem Vorbehalt behördlicher und börslicher Genehmigungen, mit möglichen Vermittlungsgebühren.
- Secured $375,000 in new financing
- Warrant exercise price ($0.15) represents 100% premium to unit price
- Proceeds will advance multiple mineral exploration projects
- Dilutive financing at $0.075 per unit
- Part of proceeds used to repay existing debt rather than growth
- Subject to regulatory approval with uncertain closing timeline
Vancouver, British Columbia--(Newsfile Corp. - April 21, 2025) - SORRENTO RESOURCES LTD. (CSE: SRS) (OCTQB: SRSLF) (the "Company") is pleased to announce that it has arranged a non-brokered private placement (the "Placement") to raise up to
Each Unit will comprise one common share and half of one share purchase warrant. Each whole warrant will entitle the holder to acquire an additional common share at a price of
Finder's fees may be payable on all or any portion of the Placement, which is subject to regulatory and exchange approval. The proceeds of the Placement will be utilized for exploration activities at the Lord Baron and Harmsworth projects, repayment of outstanding loans (see press release dated November 7, 2024) and general working capital purposes.
About the Company
Sorrento Resources is engaged in acquisition, exploration, and development of mineral property assets in Canada. The Company's objective is to locate and develop economic precious and base metal properties of merit including the Wing Pond, Lord Baron projects, the PEG lithium project, and the Harmsworth (VMS) project all located in Newfoundland.
For more information, visit https://sorrentoresources.ca/.
ON BEHALF OF THE BOARD OF DIRECTORS
Alex Bugden, P. Geo
Chief Executive Officer
investors@sorrentoresources.ca
604-290-6152
Disclaimer for Forward-Looking Information
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the anticipated plans for and results of exploration programs are "forward-looking statements". Forward-looking statements in this news release include, but are not limited to, statements with respect to the terms of the proposed Placement, the likelihood of finder's fees being paid, the timing of closing of the Placement and the proposed use of proceeds. These forward-looking statements reflect the expectations or beliefs of the management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE..
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249295
FAQ
What are the terms of Sorrento Resources (SRSLF) private placement announced in April 2025?
How will Sorrento Resources (SRSLF) use the $375,000 financing proceeds?
What mineral projects does Sorrento Resources (SRSLF) currently operate in Newfoundland?
What is the warrant exercise price and duration for SRSLF's April 2025 private placement?
