(TheNewswire)
CALGARY, AB - TheNewswire - September 14, 2023 - San LorenzoGold Corp. (" SanLorenzo " or the " Company ") (TSXV:SLG) (OTC:SNLGF) is pleased to announcethat it has completed the previously announced (August 25, 2023,September 13, 2023) non-brokered private placement of units of theCompany (" Units ") ata price of $0.12 per Unit (the " Offering "). The Company closed on the maximum Offeringof $1,000,000 and issued 8,333,333 Units. Each Unit is comprised ofone common share of the Company (each, a " Common Share ") and one CommonShare purchase warrant (each, a " Warrant "), with each Warrant entitling the holder topurchase an additional Common Share for $0.18 for 18 months from theclosing date.
The Company intends to use the proceeds from the Offering as follows:costs related to the next phase of exploration including drilling:$750,000, costs of the Offering: $50,000, costs related to previousdrilling: $100,000 with the remainder being allocated to workingcapital.
Pursuant to the Offering, San Lorenzo paid cash commissions toqualified non-related parties in the amount of $32,646 and issued272,050 broker warrants, each broker warrant entitling the holder toacquire one Common Share at a price of $0.12 per Common Share for aperiod of 18 months from the date of issuance.
Completion of the Offering is subject to regulatory approvalincluding, but not limited to, final approval of the TSX VentureExchange. The Common Shares and Warrants issued under the Offering aresubject to a four month and a day hold period from the date of theclosing of the Offering.
For further information on the Company, readers are referred to theCompany's website at www.sanlorenzogold.com andits Canadian regulatory filings on SEDAR+ at www.sedarplus.ca .
About San Lorenzo Gold Corp.
San Lorenzo Gold is involved in the exploration and advancement ofmineral properties. The Company currently has three 100% ownedproperties in Chile: Salvadora, Nancagua and Punta Alta.
The Salvadora property is subject of a recent drill program. Theproperty is on trend with the El Salvador mine located 15km to the NW,which has been in production for over 60 years. The Salvadoraproperty has 5 zones of interest with only 3 having been drilled todate. It is being explored for large scale copper-gold porphyrytargets and high-grade epithermal gold-silver-copper vein systems.
Nancagua is a high grade mesothermal gold-silver prospect andPunta Alta is an IOCG prospect withrelated disseminated and vein style copper-gold-silver-cobaltmineralization.
For further information, pleasecontact:
Gordon Aldcorn, VP Corporate Development
Email: galdcorn@sanlorenzogold.ca
Ph: 403-618-6507
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
Cautionary Note RegardingForward-Looking Information
This press release may containforward-looking information that involves substantial known andunknown risks and uncertainties, most of which are beyond the controlof San Lorenzo. All statements included herein other than statementsof historical fact, including statements pertaining to receipt ofregulatory approvals and the proposed use of proceeds, areforward-looking information. Such forward-looking information involvesvarious risks and uncertainties, including the risk that the TSXVenture Exchange does not provide final approval of the privateplacement. There can be no assurance that such information will proveto be accurate, and actual results and future events could differmaterially from those anticipated in such information. Anyforward-looking statements are made as of the date of this releaseand, other than as required by applicable securities laws, San Lorenzodoes not assume any obligation to update or revise them to reflect newevents or circumstances.
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