Sendero Resources Announces First Tranche Closing of Its Non-Brokered Private Placement
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VANCOUVER, BC / ACCESSWIRE / December 24, 2024 / Sendero Resources Corp. (TSXV:SEND) (the "Company" or "Sendero") is pleased to announce that it has now completed a first tranche (the "First Tranche") of its non-brokered private placement (the "Offering") of units of the Company (each a "Unit") previously announced on December 12, 2024. Under the First Tranche of the Offering 815,000 Units were issued at a price of $0.12 per Unit for gross proceeds of $97,800. The Company expects to close the balance shortly
Each Unit consists of one common share of the Company (each a "Common Share") and one common share purchase warrant (each whole warrant a "Warrant"). Each Warrant shall be exercisable to acquire one (1) additional Common Share at an exercise price of $0.16 until December 23, 2029.
No finder's fees were paid in connection with the First Tranche. The Units were offered by way of private placement pursuant to exemptions from prospectus requirements under applicable securities laws. All securities issued under the First Tranche are subject to a hold period expiring April 24, 2025, in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the "TSXV").
The Offering has received conditional approval from the TSXV.
The Company intends to use the net proceeds raised from the Private Placement to develop its mineral property interests in Argentina, and for general administrative expenses and working capital purposes.
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Sendero Resources Corp.
The Company is focused on copper-gold exploration at its 100% owned Peñas Negras Project in the Vicuña Belt in Argentina. The Peñas Negras Project has similar geological characteristics to other deposits in the Vicuña Belt and a cluster of porphyry and epithermal targets have been identified on the project. The Company, through its wholly owned subsidiary, Barton SAS, is the holder of ten granted mining concessions covering 120 km2 in the province of La Rioja, Argentina. The Company also has an option agreement to earn 80% interest on eight granted mining concessions covering 91.7 km2 adjacent to the East of the Peñas Negras Project.