Palisades Gold Corp. Ltd (Bali-TSXV) said it had increased its stake in… Sonoro Gold Company (SGO-TSXV, Smoove-OTCQB, 23SP) by acquiring 22 million units for 25 cents per unit or $5.5 million. Each unit consists of one common share and one common share purchase warrant exercisable at a price of 34 cents for a period of three years from the date of issuance, it said.
The announcement comes after Sonoro said it closed a previously announced oversubscribed private placement financing that raised $15.5 million for the company’s Cerro Caliche gold project in Sonora, Mexico.
The units subject to the private placement were acquired from the Sonoro Treasury. It represents approximately 5.13% of the issued and outstanding shares as of June 10, 2026 (or approximately 9.76% on a partially diluted basis, assuming exercise of the warrants only).
Immediately prior to the acquisition, Palisades held 15.25 million shares and 15.25 million shares of Sonoro stock warrants. Following the acquisition, Palisades owns 37.25 million shares, or 8.69% of total issued and outstanding shares. Assuming exercise of only the warrants, Palisades would own approximately 12.14% on a partially diluted basis and approximately 14.80% on a partially diluted basis assuming exercise of all warrants.
On Thursday, Palisades shares fell 1.1%, or $0.03, to $2.61. Shares are trading in a 52-week range of $3.80 to 81 cents.
Palisades is a British Columbia-based integrated resource investment firm and commercial bank with a focus on small companies in the resources and mining sector and developing their own mineral projects. The company has a portfolio of exploration projects in Nevada, the Echo Ridge uranium project in Ontario and a property in the Atlanta Gold Mine in Nevada. Palisades also contains gold, platinum and silver bullion.
Sonoro Gold shares were unchanged Thursday at 19 cents and traded in a 52-week range of 33.5 cents and 13 cents.
In a press release dated June 10, 2026, Sonoro Gold said it closed an oversubscribed private placement financing that raised $15.5 million from the sale of 62 million units at a price of 25 cents per unit. Proceeds from the offering will be used to advance the continued development of the company’s Cerro Caliche gold project in Sonora, Mexico, where the company plans a two-phase exploration campaign, including 50,000 meters of drilling to expand the resource.
Sonoro recently announced the results of an updated preliminary economic evaluation of Cerro Caliche. The company said the PEA demonstrates the feasibility of the mine, open pit and pile mining operation for a period of 10 years with an initial one-year production rate of 12,000 tons per day increasing to 16,000 tons per day for the remainder of the project’s life.
The updated PEA envisions a 10-year mine life 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. Initial capital expenditures are expected to be US$83 million, including a US$11 million contingency.
