(TheNewswire)
CALGARY, AB – TheNewswire - September 13, 202 3 - San Lorenzo Gold Corp.(" San Lorenzo " orthe " Company ")(TSXV:SLG) (OTC:SNLGF) is pleased to provide an update to thenon-brokered private placement of up to 8,333,333 units of the Company(" Units ") at a priceof $0.12 per Unit, for aggregate gross proceeds of up to $1,000,000(the " Offering ")announced on August 25, 2023.
The Company is pleased to report that while interest in the Offeringhas exceeded the announced maximum, the Company expects to close theOffering later today at that announced maximum of $1,000,000. Theproceeds of the Offering are expected to be applied in the followingmanner: costs related to the next phase of exploration includingdrilling: $750,000, costs of the Offering: $50,000, costs related toprevious drilling: $100,000 with the remainder being allocated toworking capital.
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 pursuant to theOffering will be subject to a four month and a day hold period fromthe date of closing 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.sedar.com .
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 the completionof the Offering, receipt of regulatory 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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