SNV:CC - Sonoro Energy Update on Trading Halt
(TheNewswire)
June 7, 2023 – TheNewswire - Calgary, Alberta – The trading of Sonoro Energy Ltd. (“Sonoro” or the“Company”) (TSXV:SNV ) (NEX:SNV.H) common shares on the NEX was halted on May 31, 2023. Aspreviously announced, Sonoro has recently executed a farm-in agreementon lands in the Western Canadian Sedimentary Basin (“WCSB”). Thetransaction is deemed to be a Fundamental Acquisition by Sonoro and asa result Sonoro is following TSXV Policy 5.3.
As per TSXV requirements, trading of the shares werehalted and will remain halted until receipt of a satisfactoryGeological Report in connection with Sonoro's acquisition of the 70%working interest in assets pursuant to the farm-in arrangement iscompleted, submitted and approved by the Exchange. The report is beingprepared by GLJ in Calgary.
Sonoro is in the final stages of completing theGeological Report and will submit the report to the TSXV for theirconsideration and potential approval of the requirements outlined inPolicy 5.3. Submission of such report to the Exchange is expect beforeJune 9, 2023. At the same time, Sonoro has requested graduation of thetrading of the common shares back to the TSXV.
Sonoro has requested to the TSXV that trading of thecommon shares resume subsequent to approval of the Geological Report.
Further updates will be provided if events change.
Forward-lookingStatements
Certain information in this news release constitutesforward-looking statements under applicable securities laws. Anystatements that are contained in this news release that are notstatements of historical fact may be deemed to be forward-lookingstatements. Forward-looking statements are often identified by termssuch as "may," "should," "anticipate,""expects," "estimates," "seeks" andsimilar expressions. In particular, without limiting the generality ofthe foregoing, this news release contains forward-looking informationregarding the opportunities discussed.
Forward-looking statements necessarily involve knownand unknown risks, including, without limitation, risks associatedwith oil and gas exploration, development, exploitation, production,marketing and transportation, loss of markets, volatility of commodityprices, currency fluctuations, imprecision of reserve estimates,environmental risks, competition from other producers, inability toretain drilling rigs and other services, delays resulting from orinability to obtain required regulatory approvals, changes inlegislation including but not limited to income tax, environmentallaws and regulatory matters, and ability to access sufficient capitalfrom internal and external sources. Readers are cautioned that theforegoing list of factors is not exhaustive.
Readers are cautioned not to place undue reliance onforward-looking statements as there can be no assurance that theplans, intentions or expectations upon which they are placed willoccur. Such information, although considered reasonable by managementat the time of preparation, may prove to be incorrect and actualresults may differ materially from those anticipated. Forward-lookingstatements contained in this news release are expressly qualified bythis cautionary statement.
Additional information on these and other factors thatcould affect Sonoro's operations or financial results are included inSonoro’s reports on file with Canadian securities regulatoryauthorities and may be accessed through the SEDAR website(www.sedar.com) or by contacting Sonoro. The forward-lookingstatements contained in this news release are made as of the date of this news release and Sonoro does notundertake any obligation to update publicly or to revise any of theincluded forward-looking statements, whether as a result of newinformation, future events or otherwise, except as expressly requiredby securities law.
Neither the TSXVenture Exchange nor its Regulation Service Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of thisrelease .
For further information to participate in futurefinancing, please contact the company at:
For further information to participate in futurefinancing, please contact the company at:
Sonoro Energy Ltd.
or
+1.403.262.3252
This press releaseis not to be disseminated in the United States
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