San Lorenzo Gold Corp. announced a non-brokered private placement of up to 8,333,333 units at a price of CAD 0.12 for the gross proceeds of CAD 1,000,000 on August 25, 2023. Each unit will consists of one common share and one common share purchase warrant.

Each whole Warrant entitles the holder thereof to purchase one common share for an exercise price of CAD 0.18 for a period of 18 months from the date of closing of the offering. As a part of the transaction, the company may pay a cash commission or finder's fee to qualified non-related parties of up to 8% of the gross proceeds of the offering (up to CAD 80,000) payable in cash together with the issuance of broker warrants representing 8% of the common shares issued in connection with the offering. The transaction is expected to close in tranches with the final closing to occur on or about September 8, 2023.