$SGO.V is almost 9% in the green after announcing yesterday the closing of its non-brokered private placement of 16,666,667 units at $0.18/unit.
The private placement created aggregate gross proceeds of $3M.
Each Unit consisted of one share and one warrant to buy a share in the two years at the price of $0.30/share.
$SGO's Directors and Officers participated in the Offering by subscribing for 3,011,461 Units (which I think shows that they have a lot of faith in the company and its projects).
The net proceeds from this private placement will be used for a 10K meter drilling campaign which is currently underway at $SGO's Cerro Caliche Gold Project (Sonora, Mexico), as well as for concession maintenance and general working capital.
The drilling program will focus on expanding the project’s oxide gold mineralization and potential higher-grade targets that were recently identified.
$SGO is still trading at just $0.185, MC $18.98M
Full press release here: https://finance.yahoo.com/news/sonoro-announces-closing-3-000-140000147.html