SNV Sonoro Energy Ltd

CALGARY, Dec. 6 /CNW/ -- NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES TSX Venture Exchange Symbol: SNV CALGARY, Dec. 6 /CNW/ - Sonoro Energy Ltd. ("Sonoro" or the "Company") (TSXV: SNV) is pleased to announce a non-brokered private placement of up to 20,000,000 units at a price of $0.25 per unit for gross proceeds of up to Cdn $5,000,000. Each unit is to be comprised of one common share ("common share") and one-half of one warrant, with each whole warrant exercisable into one common share for a period of one year after closing at an exercise price of $0.50 per share.  Sonoro intends to pay a finders' fee of 6% in connection with this private placement based on the gross proceeds realized from subscribers referred to Sonoro by the finders, with such finder's fee payable in cash or shares. Management and insiders intend to subscribe for a minimum of 4,000,000 units ($1,000,000) under the private placement. The proceeds from the private placement will be used to advance the Company's project in the Republic of Iraq, including shallow drilling activities, seismic and data acquisition, topping facilities engineering and for general working capital requirements, including the ongoing development of the Company's technologies. Closing of the private placement may occur in stages and is subject to the satisfaction of standard conditions, including the receipt of all necessary regulatory and TSX Venture Exchange approvals. The securities issued pursuant to this private placement will be subject to a four-month hold period. The securities will not be registered with the U.S. Securities and Exchange Commission and may not be offered or sold within the United States without registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933 and any applicable state securities laws. Sonoro Energy Ltd. has 129,357,454 common shares outstanding, and trades on the TSX Venture Exchange under the symbol SNV. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Statements in this release that are forward-looking statements, including the amount of the offering and its completion, are subject to risks and uncertainties, including those specific factors disclosed under the heading "Risk Factors" and elsewhere in the company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The company does not assume the obligation to update any forward-looking statement except in compliance with applicable securities laws. To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/December2010/06/c2706.html pbRICHARD WADSWORTH/bbr/ bPRESIDENT & CEO/bbr/ bT +1 403.262.3252/bbr/ bE /ba href="mailto:info@sonoroenergy.com"info@sonoroenergy.com/a/p

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