Vancouver, BC – November 8, 2013, Sonoro Metals Corp. (the “Company”) (TSX-V: SMO) announces that the Company has applied to the TSX Venture Exchange (the “TSXV”) and is seeking warrant holder approval to extend the expiry date and to reduce the exercise price of outstanding transferable share purchase warrants (the “Warrants”), which Warrants were issued on December 20, 2011 in connection with a private placement. The original exercise price of $0.30 per share for 4,275,000 Warrants is to be reduced to $0.20 per share and the original expiry date of December 20, 2013 for 4,500,000 Warrants is to be extended to December 20, 2014.
Pursuant to the policies of the TSXV, the exercise period of the 4,275,000 Warrants being repriced will be reduced to 30 days if, for any ten consecutive trading days during the unexpired term of the 4,275,000 Warrants (the “Premium Trading Days”), the closing price of the Company’s common shares exceeds $0.25 per share. The reduced exercise period of 30 days will commence seven calendar days after the tenth Premium Trading Day.
The proposed amendments to the Warrants are subject to acceptance for filing by the TSXV.
SONORO METALS CORP.
Stephen Kenwood, President
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” within the meaning of applicable Canadian provincial securities legislation with respect to the proposed amendments of the Warrants. Forward-looking statements are necessarily based upon estimates and assumptions that, while considered by the Company’s management to be reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements, including the risk that the proposed amendments of the Warrants may not be approved by the Warrant holders or the TSXV. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law or the policies of the TSXV.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.