TSX Venture Exchange has accepted for filing a Purchase and Sale Agreement dated May 26, 2014 between Sonoro Metals Corp. (the “Company”) and Minera Breco, S.A. de C.V. (“Breco”), Melvin Herdrick and Socorro Guadalupe Duarte Gonzalez (collectively, the “Vendors”), whereby the Company has agreed to acquire Breco, a private Mexican company that owns three contiguous mineral concessions comprising the San Marcial property located in the northwest Sonora state, Mexico. In consideration, the Company will pay to the Vendors $100,000 ($70,000 in the first year) over two years and issue 400,000 shares (200,000 shares in the first year) over three years.
About Sonoro Metals Corp.
Sonoro Metals Corp. is a precious metals exploration and development company with a portfolio of exploration-stage properties located in the Mexican state of Sonora, one of the most productive mining states in Mexico. Sonoro is focused on becoming the premier junior exploration and development company operating in this prolific gold-silver mineralized geological environment. Sonoro has a skilled exploration team to advance its projects to the development stage.
Forward-Looking Statement Cautions:
This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, relating to, among other things, preliminary plans for a consolidation of the Company’s Common Shares. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange or the Company’s shareholders will not approve the proposed share consolidation, and that the Company may not be able to raise sufficient additional capital to continue its business. The reader is urged to refer to the Company’s reports, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
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.