Sonoro Energy Ltd.
TSX VENTURE : SNV

Sonoro Energy Ltd.

January 21, 2011 11:30 ET

Sonoro Energy Announces Closing of $10.125 Million Private Placement

CALGARY, ALBERTA--(Marketwire - Jan. 21, 2011) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Sonoro Energy Ltd. ("Sonoro" or the "Company") (TSX VENTURE:SNV) is pleased to announce the closing of its brokered private placement. Sonoro issued 40,500,000 units at a price of $0.25 per unit for gross proceeds of Cdn $10,125,000. Each unit is 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. The securities issued pursuant to this private placement will be subject to a four-month hold period expiring May 20, 2011. The private placement was completed by a syndicate of agents led by Macquarie Capital Markets Canada Ltd. and including FirstEnergy Capital Corp.

The net 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.

Sonoro now has 214,980,009 common shares outstanding, and trades on the TSX Venture Exchange under the symbol SNV.

Forward-looking statements

This document contains forward-looking statements. More particularly, this press release contains statements concerning the anticipated use of the net proceeds of the offering and management's plan. Although Sonoro believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Sonoro can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The intended use of the net proceeds of the offering by Sonoro might change if the board of directors of Sonoro determines that it would be in the best interests of Sonoro to deploy the proceeds for some other purpose.

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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