Sonoro Energy Ltd. (TSXV:SNV) announced a non-brokered private placement of 34,615,385 units at a price of CAD 0.13 per unit for gross proceeds of up to CAD 4,500,000 on January 26, 2018. Each unit represents a 23.5% discount from the closing price on January 24, 2018 and consists of one common share of the company and one half of one common share purchase warrant of the company. Each whole warrant entitles the holder to purchase one common share within two years from the closing date of the offering at a price of $0.20 per common share. As part of the transaction, warrants are subject to an acceleration clause, which states that if, four months and one day after the warrants are issued, the closing price of the common shares of the company, on the principal market on which such shares trade, is equal to, or exceeds, CAD 0.30 for 10 consecutive trading days, the warrant expiry date shall accelerate to a date 20 calendar days after issuance of a press release by the corporation announcing the reduced warrant term, provided, no more than five business days following the eligible acceleration date, that, the press release is issued; and notices are sent to all warrant holders. The transaction is expected to close on or about February 19, 2018 but may close earlier or later or not at all. The transaction is also subject to TSX Venture final acceptance. The company is seeking to raise at least CAD 2,500,000. All securities issued will be subject to a four month hold period from the date of issuance.