Palisades Goldcorp ups stake in Sonoro Gold via unit purchase
Palisades Goldcorp Ltd. [PALI-TSXV] said it has increased its stake in Sonoro Gold Corp. [SGO-TSXV, SMOFF-OTCQB, 23SP] by acquiring 22 million units for 25 cents per unit or $5.5 million. It said each unit consists of one common share and one common share purchase warrant exercisable at 34 cents for three years from the date of issuance.
The announcement comes after Sonoro said it had closed a previously announced over-subscribed private placement financing that raised $15.5 million for the company’s Cerro Caliche gold project on Sonora, Mexico.
The subject units were acquired pursuant to a private placement from the treasury of Sonoro. They represent approximately 5.13% of the issued and outstanding shares as of June 10, 2026, (or approximately 9.76% on a partially diluted based, assuming exercise of warrants only).
Immediately prior to the acquisition, Palisades owned 15.25 million shares and 15.25 million share purchase warrants of Sonoro. Following the acquisition, Palisades owns 37.25 million shares, or 8.69% of all issued and outstanding shares. Assuming the exercise of warrants only, Palisades would own approximately 12.14% on a partially diluted basis and approximately 14.80% on a partially diluted based assuming exercise of all warrants.
On Thursday, Palisades shares eased 1.1% or $0.03 to $2.61. The shares trade in a 52-week range of $3.80 and 81 cents.
Palisades is a British Columbia incorporated resource investment company and merchant bank with a focus on junior companies in the resource and mining sector and advancing its own mineral projects. The company owns an exploration project portfolio in Nevada, the Eco Ridge uranium project in Ontario and a royalty on the Atlanta Gold Mine in Nevada. Palisades also holds physical gold, platinum and silver bullion.
Sonoro Gold shares were unchanged Thursday at 19 cents and trade in a 52-week range of 33.5 cents and 13 cents.
In a press release on June 10, 2026, Sonoro Gold said it had closed an over-subscribed private placement financing that raised $15.5 million from the sale of 62 million units priced at 25 cents per unit. Proceeds from the offering will be used to advance the ongoing development of the company’s Cerro Caliche gold project on Sonora, Mexico, where the company is planning a two-phased exploration campaign, including 50,000 metres of resource expansion drilling.
Sonoro recently announced the results of an updated preliminary economic assessment for Cerro Caliche. The company said the PEA demonstrates the viability for a 10-year life of mine, open pit, heap leach mining operation with an initial one-year ramp up production rate of 12,000 tonnes per day and an increase to 16,000 tonnes per day for the remaining of the project’s life span.
The updated PEA envisages a 10-year life of mine with average production of 46,000 ounces of gold equivalent (AuEq) at 0.38 g/t or 459,000 ounces of AuEq over 10 years. The initial capital expenditure is forecast at US$83 million, including an US$11 million contingency.