Sanatana Closes Private Placement
20 Dezembro 2013 - 5:11PM
Marketwired
Sanatana Closes Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 20, 2013) -
Sanatana Resources Inc. ("Sanatana" or the "Company")
(TSX-VENTURE:STA) announces that further to its news release of
December 6, 2013, the Company has closed the non-brokered private
placement of 5,500,000 flow-through units (the "FT Units") at $0.05
per FT Unit for gross proceeds of $275,000 (the "Offering").
Each FT Unit consists of one flow-through common share in the
capital of the Company (a "FT Share") and one-half of one share
purchase warrant (each whole warrant, a "Warrant"). Each Warrant
will entitle the holder to purchase one additional non-flow-through
common share in the capital of the Company (a "Warrant Share") at a
price of $0.10 per Warrant Share on or before December 20,
2015.
In connection with the closing, the Company paid an aggregate
cash commission of $22,000 to an arm's-length finder, representing
8% of the gross proceeds raised on the sale of the FT Units placed
by such finder. All securities issued in connection with the
Offering are subject to a statutory hold period expiring on April
21, 2014 in accordance with applicable securities legislation.
About the
Company
Sanatana Resources Inc. is a Canadian mineral exploration and
development company focused on its Watershed Property in Ontario.
Sanatana entered into an option and joint venture agreement with
Trelawney Augen Acquisition Corp. (formerly Augen Gold Corp.)
("TAAC") which grants Sanatana an option to acquire up to 51% of
the Watershed Property consisting of 46 mining claims totalling
approximately 19,006 acres and located within the Townships of Yeo,
Chester, Neveille and Benneweis. As at November 2012, Sanatana
exercised its first option and is the legal and beneficial owner of
50% of the Watershed Property. Sanatana has until March 2016, to
decide whether to exercise its right to acquire a further 1% in the
Watershed Property.
In June 2012 IAMGOLD Corporation completed its acquisition of
Trelawney Mining and Exploration Inc. and became the sole indirect
shareholders of TAAC. With an experienced management team and board
of directors, the Company has the ability required to identify,
develop and fund economic mineral properties. Sanatana is based in
Vancouver and is listed on the TSX Venture Exchange
(TSX-VENTURE:STA). In 2013, Sanatana expanded the Watershed
Property by acquiring, for the benefit of Sanatana and TAAC, a 20%
interest in three additional mining claims located in Yeo and
Chester Townships, Ontario.
SANATANA RESOURCES INC.
Peter Miles,
President and Chief Executive Officer
Neither TSX
Venture Exchange nor its Regulations Services Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
Sanatana Resources Inc.Mr. Peter MilesPresident and Chief
Executive
Officer604-408-6680investor@sanatanaresources.comwww.sanatanaresources.com
Sanatana Resources (TSXV:STA)
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