UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
November 14, 2011
Date of Report (Date of earliest event reported)
SONO RESOURCES, INC.
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Nevada |
000-51583 |
98-0441019 |
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2533 N. Carson Street, Suite 125 |
89706 |
(775) 348-9330
Registrant's telephone number, including area code
Not applicable
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
SECTION 3 - SECURITIES AND TRADING MARKETS
Item 3.02 Unregistered Sales of Equity Securities.
Effective on November 14, 2011, Sono Resources, Inc. (the "Company") completed a private placement financing (the "Private Placement") involving the sale of an aggregate of 2,480,000 units of the Company (each a "Unit") at a subscription price of $0.50 per Unit, for gross proceeds of $1,240,000.
Each Unit is comprised of one common share (each a "Share") and one transferable common stock purchase warrant (each a "Warrant") of the Company, with each such Warrant being exercisable for one additional common share of the Company (each a "Warrant Share") at an exercise price of $0.75 per Warrant Share for a period of 24 months from closing.
In connection with such Private Placement closing, and in accordance with the terms of an agency agreement between the Company and an agent (the "Agent"), the Company issued to the Agent 248,000 Options (each, an "Agent's Option") exercisable into 248,000 units (each, an "Agent's Units") at a price of $0.50 per Agent's Unit for a period of 24 months from closing. Each Agent's Unit is comprised of one common share (each, an "Agent's Share") and one warrant (each an "Agent's Warrant"), with each such Agent's Warrant being exercisable for one additional common share (each an "Agent's Warrant Share") at an exercise price of $0.75 per Agent's Warrant Share for a period of 24 months from closing.
Pursuant to and in accordance with the terms of the above-referenced subscription agreements and agency agreement, as applicable, the Company has agreed to prepare and file with the U.S. Securities and Exchange Commission (the "SEC") a registration statement for the resale of the Shares, Warrants, Warrant Shares, Agent's Options, Agent's Shares, Agent's Warrants and Agent's Warrant Shares, and to use its best efforts to cause such registration statement to be declared effective within four months from the closing date of the above-referenced Private Placement.
In connection with the issuance of the Units and the Agent's Options, the Company relied on exemptions from registration under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), provided by Regulation S, based on representations and warranties provided by the purchasers of the Units in their respective subscription agreements entered into between each purchaser and the Company and by the Agent in its agency agreement with the Company.
SECTION 8 - OTHER EVENTS
Item 8.01 Other Events
On November 15, 2011, the Company issued a news release with respect to the Private Placement described in Item 1.01 above.
A copy of the press release is filed herewith as Exhibit 99.1 in accordance with Rule 135c of the U.S. Securities Act.
SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS
Item 9.01 Financial Statements and Exhibits
(a) Financial Statements of Business Acquired
Not applicable.
(b) Pro forma Financial Information
Not applicable.
(c) Shell Company Transaction
Not applicable.
(d) Exhibits
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Exhibit |
Description |
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99.1 |
Press Release dated November 15, 2011. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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SONO RESOURCES, INC. |
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__________

NEWS RELEASE
For Immediate Release
$1,240,000 Private Placement Closed by Sono Resources, Inc.
Vancouver, British Columbia, November 15, 2011 - Sono Resources, Inc. (OTCBB: SRCI) (the "Company" or "Sono") today announced that it has closed on a private placement of 2,480,000 units of the Company (each, a "Unit") at US$0.50 per Unit, for total gross proceeds of US$1,240,000. Each Unit consist of one common share and one share purchase warrant of the Company, with each warrant exercisable to purchase one additional common share at US$0.75 per share for a period of 24 months from closing.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities. The securities offered and sold in the private placement have not been registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws, and may not be offered or sold in the United States absent registration, or an applicable exemption from registration under the Securities Act and applicable state securities laws.
About Sono Resources Inc.
Sono Resources Inc. is a mineral exploration company seeking to acquire, explore and develop highly prospective metal projects in Africa. Its core project, located in Botswana, covers 2965.6 square kilometers and is in the center of the Kalahari Copper Belt, recognized as one of the largest producing copper belts in the world.
See www.sonoresourcesinc.com for more information.
Contact:
Investor Relations
1.855.662.7666
Certain statements in this release are forward-looking statements, which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to the Company
's further drilling, its expectations to receive results or its ongoing exploration program. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with mineral exploration and production, (3) a decreased demand for minerals and fluctuations in the price of such minerals, (4) any number of events or causes which may delay or cease exploration and development of the Company's property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and labor problems; (5) the risk that the Company does not execute its business plan, (6) political and foreign risks, (7) inability to retain key employees, (8) inability to finance operations and growth, and (9) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. We seek safe harbor.JDD*)*&,>(\D@IR$CC2"4*1(.*&)L4<\P5R4@S2"G,]/\1
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