Sonoma Resources Inc. Announces Private Placement
Sonoma Resources Inc. announces that it will proceed with a non-brokered Private Placement of up to 4,000,000 units of Sonoma at a price of $0.05 per unit for proceeds to the Company of up to $200,000. Each Unit consists of one common share of Sonoma and one non-transferable share purchase warrant entitling the holder to acquire one additional common share of Sonoma at a price of $0.10 per common share for a period of eighteen months from the date of the issuance of the purchase warrant with a forced exercise provision attached to each warrant commencing on the day following the expiry of any applicable hold period on the underlying Common Share, stating that if, for ten consecutive trading days, the closing price of the listed shares of the Company exceeds $0.40 then the exercise period of the warrants will be reduced to a period of 10 days following such trading days.
