07:01:24 EDT Fri 19 Apr 2024
Enter Symbol
or Name
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CA



Sanatana Resources Inc
Symbol STA
Shares Issued 152,229,834
Close 2019-02-06 C$ 0.05
Market Cap C$ 7,611,492
Recent Sedar Documents

Sanatana arranges $1.5-million private placement

2019-02-07 19:37 ET - News Release

Mr. Peter Miles reports

SANATANA ANNOUNCES PRIVATE PLACEMENT

Sanatana Resources Inc. is proceeding with a non-brokered private placement of up to 30 million units at five cents per unit for gross proceeds of up to $1.5-million. Each unit will consist of one common share of the company and one whole warrant. Each warrant will entitle the holder to purchase one additional common share of the company at a price of 10 cents per warrant share for a period of 36 months from the closing of the offering.

In connection with the offering, the company may pay finders' fees to certain arm's-length parties in accordance with the rules of the TSX Venture Exchange in consideration for their efforts in introducing subscribers to the company.

Closing is subject to prescribed conditions, including, without limitations, approval of the TSX Venture Exchange. 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 four-month hold period which will expire four months and one day from the date of closing of the offering.

The company expects to use net proceeds from the offering for exploration and development activities on the company's exploration projects and for working capital purposes.

About Sanatana Resources Inc.

Sanatana 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. Sanatana's present focus is the 282-square-kilometre Tirua project in the Solomon Islands, southwest Pacific.

We seek Safe Harbor.

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