San Lorenzo Amends Offering to Permit U.S. Sales of Up to $50 Million LIFE Tranche

San Lorenzo Gold Corp. said Oct. 29 it filed a second amended offering document that allows up to $49,999,670 in LIFE shares to be offered through U.S. private placements, adding a U.S. route for the tranche.

The listed issuer financing exemption (LIFE) tranche covers up to 9,433,900 shares. The amendment allows the shares to be offered in the United States through private placements relying on available federal and state securities-law exemptions. It also permits offers outside Canada and the United States where applicable law does not require a prospectus, registration statement or similar filing.

The securities are not registered in the United States. They may not be offered or sold there unless they are registered or an exemption applies.

The full proposed offering covers up to 15,094,400 common shares at $5.30 each, for maximum gross proceeds of $80,000,320. Those figures are offering caps; the proceeds are not described as a completed raise.

San Lorenzo increased the offering on Oct. 16 from a maximum of 7,547,200 shares and $40,000,160. At that time, the LIFE tranche was described as available in Canadian provinces outside Québec. A separate tranche already contemplated buyers in the United States and other international markets under applicable exemptions.

San Lorenzo is a mineral exploration company advancing its wholly owned Salvadora Project in Chile’s Atacama Region. The company plans to use net proceeds for project exploration, general corporate purposes and working capital.

The offering is expected to close on or about Nov. 10, subject to conditions that include approval from the TSX Venture Exchange.