San Lorenzo Gold Announces Closing of $20 Million Private Placements

Executive Summary

• San Lorenzo Gold Corp. completed its previously announced private placements, raising aggregate gross proceeds of $19,999,997.41.
• The offering consisted of two tranches: 5,976,095 units at $2.51/unit (gross $14,999,998.45) and 1,893,939 units at $2.64/unit (gross $4,999,998.96).
• Proceeds will fund continued exploration on the flagship Salvadora property in Chile and provide general working capital.

Key Details

• Initial Offering: 5,976,095 units @ $2.51 per unit → $14,999,998.45 gross proceeds.
• Additional Offering: 1,893,939 units @ $2.64 per unit → $4,999,998.96 gross proceeds.
• Unit Composition: Each Unit = 1 common share + ½ warrant (full warrant allows purchase of one additional common share at $3.50 for 1 year).
• Broker Warrants Issued:
• Initial Offering – 282,549 broker warrants @ $2.51 exercise price, cash compensation $709,199.87.
• Additional Offering – 89,545 broker warrants @ $2.64 exercise price, cash compensation $236,399.96.
• Hold Period: All common shares, warrants and broker warrants subject to a four‑month plus one‑day hold period.
• Use of Proceeds: Primarily for exploration activities on the Salvadora property (phase 6 drilling on 2 of 5 targets) and general working capital, including offering expenses.
• Regulatory Condition: Offerings remain subject to final acceptance by the TSX Venture Exchange.

Notable Quotes

(No direct quotes were provided in the release.)