Sonoran Desert Copper Corporation Announces Private Placement Financing and New Chief Financial Officer

Rhea-AI Summary

Sonoran Desert Copper (TSXV: SDCU) has announced two significant developments: the appointment of Nancy Zhao as the new CFO and a non-brokered private placement financing. Zhao brings over nine years of public company experience and holds CPA designation, replacing Edward Low. The financing aims to raise up to $750,000 through the issuance of 500,000 units at $0.15 each. Each unit includes one common share and one warrant exercisable at $0.30 for 24 months, with an acceleration clause if shares trade at or above $1 for 10 consecutive days. Proceeds will fund project payments, development, and working capital.

Positive

• Secured potential funding of $750,000 through private placement
• Appointed experienced CFO with public company and CPA background

Negative

• Potential shareholder dilution through new share issuance
• Four-month hold period on new securities restricts immediate trading

News Market Reaction

+10.64%

1 alert

+10.64% News Effect

On the day this news was published, PMDRF gained 10.64%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - November 20, 2024) - Sonoran Desert Copper Corporation (TSXV: SDCU) ("SDCU'' or the "Company") is pleased to announce the appointment Nancy Zhao as the new chief financial officer (CFO) of the Company.

Ms. Zhao has over nine years of experience working with public companies, including having served as the CFO for several publicly traded entities and contributing her financial acumen to organizations such as Homerun Resources Inc., First Hydrogen Corp. and Neo Battery Materials Ltd. Holding the designation of CPA, Ms. Zhao has a comprehensive educational background, including a diploma in financial management from British Columbia Institute of Technology, and a bachelor's degree in chemical engineering from Tianjin University of Technology. The Company wishes to thank Edward Low for his years of professional service on behalf of the Company and welcomes Nancy to the team and looks forward to building the Company under her financial and accounting guidance. Nancy has both a professional and educational history that will provide a new focus on building the requisite systems that are key in today's capital markets and financial reporting.

The Company also announces a non-brokered private placement financing for aggregate gross proceeds of up to $750,000. The financing will consist of up to 500,000 units at $0.15, with each unit consisting of one common share of the company and one common share purchase warrant with each warrant being exercisable for an additional common share at an exercise price of $0.30 for 24 months. The warrants will be subject to the right of the company to accelerate the exercise of the warrants if the shares of the company trade at or above $1 for a period of 10 consecutive trading days. Finders' fees in accordance with TSX Venture Exchange policies may apply to the financing. All securities issued pursuant to the financing will be subject to a four-month hold. Proceeds from the financing will be used for project payments, continuing development of the company's projects and general working capital.

ABOUT SONORAN DESERT COPPER CORPORATION
Sonoran Desert Copper Corporation is focused on securing, developing and monetizing materials assets and technologies to build shareholder value.

On behalf of the Board of Directors of
SONORAN DESERT COPPER CORPORATION

"Brian Leeners"

Brian Leeners, CEO & Director
brianleeners@gmail.com / +1 604-862-4184 (WhatsApp)

FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-Looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements.

Neither the 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230694

FAQ

What is the price per unit in Sonoran Desert Copper's (TSXV: SDCU) private placement?

The private placement offers units at $0.15 each.

What is the warrant exercise price and term for Sonoran Desert Copper's (TSXV: SDCU) financing?

The warrants are exercisable at $0.30 per share for a 24-month period.

Who is the newly appointed CFO at Sonoran Desert Copper (TSXV: SDCU)?

Nancy Zhao, a CPA with over nine years of public company experience, has been appointed as the new CFO.

What is the acceleration clause trigger price for Sonoran Desert Copper's (TSXV: SDCU) warrants?

The warrants can be accelerated if shares trade at or above $1 for 10 consecutive trading days.