(TheNewswire)
CALGARY, ALBERTA – TheNewswire- April 28, 2022 – San Lorenzo GoldCorp. (" San Lorenzo " orthe " Corporation ") ( tsxv :slg), ( OTC :snlgf ) is pleased to announcethat it has closed the third and final tranche (the " Final Tranche Closing ") of its previously announced private placement ofunits of the Corporation (" Units ") at a price of $0.10 per Unit (the" Offering "). Each Unit is comprised of one (1) common share ofthe Corporation (“ CommonShare ”) and one (1) Common Share purchasewarrant (“ Warrant ”). Each Warrant is exercisable at$0.20 per Common Share for a period of 12 months from the date ofissuance.
The Final Tranche Closing yielded gross proceeds of$315,000 which involved the issuance of 3,150,000 Units comprised of3,150,000 Common Shares and 3,150,000 Warrants. Finder’s fees inthe aggregate amount of $1,050 and 10,500 broker warrants(" BrokerWarrants ") were paid and issued in respectof the Final Tranche Closing. Each Broker Warrant entitles the holderto acquire one Common Share at a price of $0.10 per Broker Warrant fora period of 12 months from the date of issuance.
Proceeds from the Offering will be used for workingcapital purposes including the costs for the drilling program at theCorporation’s Salvadora property and to pay the expenses associatedwith the Offering.
Completion of the Offering is subject to regulatoryapproval including, but not limited to, the approval of the TSXVenture Exchange. The securities issued under the Final TrancheClosing are subject to a four month hold period from the date of theFinal Tranche Closing.
For further information on the Corporation, readers arereferred to the Corporation’s website at www.sanlorenzogold.com and its Canadian regulatory filings on SEDAR at www.sedar.com .
About San Lorenzo Gold Corp.
San Lorenzo Gold is in the business of exploring forand advancing mineral properties. The Corporation currently hasthree 100% owned properties in Chile: Salvadora, Nancagua and PuntaAlta. The Salvadora property is being explored for large scalecopper-gold porphyry targets and high grade epithermalgold-silver-copper vein systems, Nancagua is a high grade mesothermalgold-silver prospect and Punta Alta is a copper – gold porphyryprospect with related disseminated and vein stylecopper-gold-silver-cobalt mineralization.
For further information, please contact:
Al Kroontje, Chairman Ken Booth, President
Email: al@kasten.ca Email: kbooth@sanlorenzogold.com
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this news release.
Not for distribution to UnitedStates newswire services or for release, publication, distribution ordissemination directly, or indirectly, in whole or in part, in or intothe United States
Forward-Looking Information
This news release may containcertain forward-looking information and forward-looking statementswithin the meaning of applicable securities legislation (collectively"forward-looking statements"). Generally, forward-lookingstatements can be identified by the use of forward-looking terminologysuch as "expected", "will","anticipated", "aims to", "plans to" or"intends to" or variations of such words and phrases orstatements that certain actions, events or results "will"occur. In particular, this news release contains forward-lookingstatements relating to, among other things: the use of proceeds fromthe Offering; and the Corporation's ability to obtain necessaryapprovals from the TSX Venture Exchange. Such forward-lookingstatements are based on various assumptions and factors that may proveto be incorrect, including, but not limited to, factors andassumptions with respect to: the general stability of the economic andpolitical environment in which the Corporation operates; the timelyreceipt of required regulatory approvals; the ability of theCorporation to obtain future financing on acceptable terms; currency,exchange and interest rates; operating costs; the success theCorporation will have in exploring its prospects and the results fromsuch prospects. You are cautioned that the foregoing list of materialfactors and assumptions is not exhaustive. Although the Corporationbelieves that the assumptions and factors on which suchforward-looking statements are based are reasonable, undue relianceshould not be placed on the forward-looking statements because the Corporation can give noassurance that they will prove to be correct or that any of the eventsanticipated by such forward-looking statements will transpire oroccur, or if any of them do so, what benefits the Corporation willderive there from. Actual results could differ materially from thosecurrently anticipated due to a number of factors and risks including,but not limited to: fluctuations in market conditions, includingsecurities markets; economic factors; the risk that the Corporationwill not receive the approvals necessary in connection with theOffering; and the impact of general economic conditions and theCOVID-19 pandemic. The Corporation does not undertake to update anyforward-looking statements herein, except as required by applicablesecurities laws. All forward-looking statements contained in this newsrelease are expressly qualified by this cautionary statement
Copyright (c) 2022 TheNewswire - All rights reserved.