Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Club
$299/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Sanatana Announces Increase in Private Placement

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, July 16, 2020 (GLOBE NEWSWIRE) -- Sanatana Resources Inc. (“Sanatana” or the “Company”) is pleased to announce that due to investor demand it has increased the size of its private placement previously announced on July 7, 2020.  Sanatana now proposes to issue up to (i) 11,500,000 units of the Company (the “Units”) and 7,083,333 flow-through units of the Company (the “FT Units”) for aggregate gross proceeds of up to $2,000,000 and priced at $0.10 per Unit and $0.12 per FT Unit. 

Each Unit will consist of one common share in the capital of Sanatana (a “Share”) and one half of a share purchase warrant (each whole warrant, a “Unit Warrant”).  Each FT Unit will consist of one Share which will be designated as a flow-through share (a “FT Share”) pursuant to the Income Tax Act (Canada) and one half of a share purchase warrant (each whole warrant, a “FT Unit Warrant”).  Each Unit Warrant will entitle the holder to purchase one non-flow-through Share at a price of $0.18 per Share for a period of 18 months from the date of closing of the Private Placement.  Each FT Unit Warrant will entitle the holder to purchase one non-flow-through Share at a price of $0.20 per Share for a period of 18 months from the date of closing of the Private Placement.  All other terms are as described in the initial private placement news release.

The proceeds from the Private Placement are expected to be used by the Company for its existing portfolio of exploration projects along with initial funding for recently announce Option Agreement on the Gold Rush Property and for general and corporate purposes.

About the Company

Sanatana Resources Inc. is a mineral exploration and development company with an experienced management team and board of directors. Sanatana is based in Vancouver and is listed on the TSX Venture Exchange (TSX-V: STA).

SANATANA RESOURCES INC.

(signed) “Peter Miles

Peter Miles

Chief Executive Officer

For additional information on the Company, please contact Mr. Peter Miles, Chief Executive Officer at 604-408-6680 or email [email protected].

Cautionary Statement Regarding “Forward-Looking” Information

Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “plans,” “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved.

Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond Sanatana’s control and may include, without limitation, statements related to the use of proceeds for the Private Placement.

Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

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.

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).