San Lorenzo Gold Announces Closing of $20 Million Private Placements

Core Viewpoint - San Lorenzo Gold Corp. has successfully completed private placements totaling approximately $19.99 million to fund exploration efforts and general working capital [1]. Group 1: Private Placement Details - The private placements included 5,976,095 units priced at $2.51 per unit, generating gross proceeds of approximately $15 million [2]. - An additional 1,893,939 units were sold at $2.64 per unit, raising about $5 million [2]. - Each unit consists of one common share and one half of a share purchase warrant, with full warrants allowing the purchase of additional shares at $3.50 for one year [3]. Group 2: Compensation and Broker Warrants - For the Initial Offering, cash compensation of approximately $709,200 was paid, along with the issuance of 282,549 broker warrants, each allowing the purchase of a common share at $2.51 for one year [4]. - The Additional Offering involved cash compensation of about $236,400 and the issuance of 89,545 broker warrants, each allowing the purchase of a common share at $2.64 for one year [4]. Group 3: Use of Proceeds and Project Focus - Proceeds from the offerings will be utilized for exploration on the Salvadora property and for general working capital, including offering expenses [5]. - 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 [5].