What happens nowCalgary, Alberta - TheNewswire - Sonoro Energy Ltd (the "Corporation "or "Sonoro") (TSXV: SNV) is pleased to announce that it has closed a non-brokered private placement offering of convertible debentures ("Debentures") for gross proceeds of $1,615,382 ("the Offering") convertible into 19,004,500 Common Shares of the Corporation. The Debentures bear an interest of 8% per annum expiring (expiry") on November 25, 2021. The Debentures may be converted into Common Shares of the Company at any time in the first year at $0.085 per Common Share. Debentures converted in the second year, before the expiry, are convertible at $0.10 per Common Share. As previously announced on October 11, 2019 the convertible debentures have been issued to Sonoro's Indonesian partner for funds advanced to Sonoro for the Selat Panjang project to date. Under terms of the agreement, Sonoro's first year project costs will be carried by its partner for a maximum period of two years and will only be converted into common shares should Sonoro not repay such advances after this timeframe.