San Lorenzo Gold Announces Final Closing of Private Placement and Amended Advisory Engagement Agreement

Core Viewpoint - San Lorenzo Gold Corp. has successfully completed the final closing of its private placement, raising a total of approximately $5.99 million for exploration and working capital purposes [1][2]. Group 1: Private Placement Details - The final closing involved the issuance of 5,567,193 units for gross proceeds of $3,451,659.66, bringing the total raised under the offering to $5,999,999.78 [1]. - Each unit consists of one common share and one half of a share purchase warrant, with full warrants allowing the purchase of additional common shares at $0.80 for two years [1]. - Cash commissions of $179,408.90 were paid, and 15,862 broker warrants were issued, each allowing the purchase of a common share at $0.80 for one year [1]. Group 2: Use of Proceeds - The proceeds from the offering will be allocated to exploration efforts on the Salvadora property and for general working capital, including offering expenses [2]. Group 3: Advisory Agreement - San Lorenzo will enter into an amended advisory engagement agreement with Argonaut Corporate Finance Limited, granting 1,000,000 stock options at $0.80 per share for two years [3]. - These options replace previously planned advisory warrants as part of the compensation for Argonaut [3]. Group 4: Company Focus - San Lorenzo is advancing its flagship Salvadora property in Chile's mega-porphyry belt, currently conducting a phase 6 drilling program on two of five identified targets [4]. - Previous drilling phases have indicated the presence of significant gold and copper enriched systems within the Salvadora property [4].