Sonoro Energy Closes Private Placement and Provides an Update on Activities in Indonesia May 31, 2021 - TheNewswire - Calgary, Alberta - Sonoro Energy Ltd. (Sonoro or the Company) (TSXV:SNV) (OTC:SNVFF) announces that it has completed the previously announced non-brokered private placement of common share|warrant unit financing to support ongoing activities in Indonesia. Sonoro will issue 7,000,000 units for total proceeds of $350,000 Each unit consists of one $0.05 common share (a Common Share) and one common share purchase warrant (a Warrant) of the Company, where each whole Warrant entitles the holder to purchase one Common Share within two years at a price of $0.10 per Common Share. Sonoro will use the proceeds of the funding for third party technical studies to improve the geological and reservoir model of the Pematang reservoirs within the Selat Panjang project area in Sumatra, Indonesia and general working capital purpose. Certain subscriptions will also be used to extinguish existing debt obligations on the balance sheet. Management and Insiders will be subscribing for a large portion of the private placement.