CALGARY, Canada (June 7, 2023)—The trading of Sonoro Energy Ltd. (“Sonoro” or the “Company”) (TSXV (NEX): SNV.H) common shares on the NEX was halted on May 31, 2023. As previously announced, Sonoro has recently executed a farm-in agreement on lands in the Western Canadian Sedimentary Basin (“WCSB”). The transaction is deemed to be a Fundamental Acquisition by Sonoro and as a result Sonoro is following TSXV Policy 5.3.
As per TSXV requirements, trading of the shares were halted and will remain halted until receipt of a satisfactory Geological Report in connection with Sonoro's acquisition of the 70% working interest in assets pursuant to the farm-in arrangement is completed, submitted and approved by the Exchange. The report is being prepared by GLJ in Calgary.
Sonoro is in the final stages of completing the Geological Report and will submit the report to the TSXV for their consideration and potential approval of the requirements outlined in Policy 5.3. Submission of such report to the Exchange is expect before June 9, 2023. At the same time, Sonoro has requested graduation of the trading of the common shares back to the TSXV.
Sonoro has requested to the TSXV that trading of the common shares resume subsequent to approval of the Geological Report.
Further updates will be provided if events change.