Sanatana Upsizes Private Placement

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 Upsizes Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 27, 2017) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

Sanatana Resources Inc. ("Sanatana" or the "Company") (TSX VENTURE:STA) has increased its non-brokered private placement announced on February 16, 2017 to 17,500,000 flow-through units ("FT Units") at $0.05 per FT Unit and 2,500,000 non-flow-through units ("Units") at $0.05 per Unit for aggregate gross proceeds of up to $1,000,000 (the "Offering").

Each FT Unit will consist of one common share of the Company that is a "flow-through share" within the meaning of the Income Tax Act (Canada) and one whole warrant (a "Warrant"). Each Unit will consist of one non-flow-through common share of the Company and one Warrant. Each Warrant will entitle the holder to purchase one additional non-flow-through common share of the Company (a "Warrant Share") at a price of $0.10 per Warrant Share for a period of 24 months from the closing of the Offering. In connection with the Offering, the Company may pay finder's fees to certain arm's length parties in accordance with the rules of the TSX Venture Exchange ("TSX-V") in consideration for their efforts in introducing subscribers to the Company.

Closing is subject to prescribed conditions, including, without limitation, approval of the TSX-V. The securities to be issued under the Offering will be offered by way of private placement in the provinces of British Columbia, Alberta and Ontario and such other provinces or territories of Canada as may be determined by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws. Securities issued under the Offering will be subject to a hold period which will expire four months and one day from the date of closing of the Offering.

The proceeds from the Offering will be used for exploration on the Company's Jackfish Property and for general working capital purposes. For details on the Company's Jackfish Property and the terms governing the option earn-in, see Sanatana's news release dated February 7, 2017.

Warrant Acceleration

The Warrants are subject to an accelerated expiry if, anytime following the expiration of the four-month hold period, the Company's common shares trade at a price, or if no trade was reported, the closing bid has been, equal to or greater than $0.15 on the TSX-V, or such other market as the common shares may trade from time to time, in which event the Company may accelerate the Warrants by giving notice pursuant to a news release that the Warrants will expire 30 days following the date of such notice. 

About the Company

Sanatana Resources Inc. is a mineral exploration and development company. 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).

SANATANA RESOURCES INC.

Peter Miles, President and Chief Executive Officer

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. 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.

Sanatana Resources Inc.
Mr. Peter Miles
President and Chief Executive Officer
(604) 408-6680
[email protected]

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).