San Lorenzo arranges $15-million private placement

Executive Summary

• San Lorenzo Gold Corp. announced a proposed non-brokered private placement of units with gross proceeds of up to $15 million.
• The offering is being completed on a best-effort basis, with each unit priced at $2.51, consisting of one common share and one-half of a common share purchase warrant.
• Proceeds will be utilized for continued exploration on the flagship Salvadora property in Chile and for general working capital.

Key Details

• Gross Proceeds: Up to $15 million.
• Unit Price: $2.51 per unit.
• Unit Composition: Each unit consists of one common share and one-half of a common share purchase warrant.
• Warrant Terms (Investors): Each full warrant entitles the holder to acquire one additional common share at an exercise price of $3.50. The warrants are exercisable for a period of one year from the date of closing.
• Finder’s Fee/Commission: San Lorenzo may pay qualified non-related parties a cash commission or finder's fee of up to 6% of gross proceeds, payable together with warrants representing 6% of the common shares issued.
• Broker Warrant Terms: Each broker warrant entitles the holder to purchase one additional common share at a price of $2.51 for a period of 12 months following closing.
• Use of Proceeds: Continued exploration efforts on the Salvadora property and general working capital purposes, including offering expenses.
• Hold Period: Common shares, warrants, and broker warrants are subject to a four-month-and-one-day hold period.
• Regulatory Status: The offering is subject to approval by the TSX Venture Exchange.

Notable Quotes

• None provided in the text.