22:29:26 EDT Fri 06 Jun 2025
Enter Symbol
or Name
USA
CA



Sanatana Resources Inc (3)
Symbol STA
Shares Issued 14,648,995
Close 2025-06-04 C$ 0.65
Market Cap C$ 9,521,847
Recent Sedar Documents

Sanatana investor Lireca boosts holding to 18.84%

2025-06-04 10:50 ET - News Release

Mr. James Munro, a lawyer on behalf of Lireca Resources, reports

EARLY WARNING REPORT ISSUED PURSUANT TO NATIONAL INSTRUMENT 62-103

This press release is being issued in connection with the filing of an early warning report, pursuant to the requirements of National Instrument 62-103 -- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, regarding the acquisition of securities of Sanatana Resources Inc. by Lireca Resources Corp. The acquiror is a British Columbia corporation and has a head office at suite 1500, 1055 West Georgia St., Vancouver, B.C., V6E 4N7. The issuer's head office is located at suite 1910, 925 West Georgia St., Vancouver, B.C., V6C 3L2.

On June 4, 2025, the acquiror, through its joint actors, acquired 6,295,000 common shares in the capital of the issuer and 295,000 common share purchase warrants. Each warrant is exercisable into an additional common share at an exercise price of 12 cents for a term of 12 months after issuance.

Six million of the common shares were acquired in connection with the completion of an asset sale involving the issuer and the acquiror. In connection with the transaction, the acquiror acquired the consideration securities in exchange for the sale of its right, title and interest under and relating to certain quartz claims located in Yukon, pursuant to a quartz claim purchase agreement dated May 5, 2025, between the issuer and the acquiror.

The warrants and 295,000 common shares were acquired in connection with the closing of a non-brokered private placement of units in the capital of the issuer at a price of 10 cents per unit. Each unit consists of one common share and one warrant. In connection with the private placement, the acquiror acquired the financing securities pursuant to the purchase of 295,000 units for aggregate consideration of $29,500.

Prior to the acquisition, the acquiror held, directly or indirectly through its affiliates, 195,379 common shares. Following the acquisition, the acquiror, along with its affiliates, had ownership of, or exercised control or direction over, 6,490,379 common shares and 295,000 warrants, representing 18.84 per cent of the issued and outstanding common shares on a non-diluted basis and 19.52 per cent of the issued and outstanding common shares on a partially diluted basis. The acquisition resulted in the acquiror meeting the insider reporting threshold pursuant to Section 5.2(1) of National Instrument 62-104 -- Take-Over Bids and Issuer Bids.

The acquiror holds the consideration securities and the financing securities for investment purposes. The acquiror and the issuer may engage in further discussions to explore possible additional mineral property transactions, which may involve an increase in the acquiror's beneficial ownership or control or direction over additional securities of the issuer. Aside from such potential transactions, the acquiror does not have any current intentions to increase or decrease its beneficial ownership or control or direction over any additional securities of the issuer. The acquiror may, from time to time and depending on market and other conditions, otherwise acquire additional common shares and/or other equity, debt, or other securities or instruments of the issuer in the open market or otherwise, and reserve the right to dispose of any or all of the securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the securities, the whole depending on market conditions, the business and prospects of the issuer, and other relevant factors.

For further information, or to obtain a copy of the early warning report filed under applicable securities laws, please contact James Munro, legal counsel, at 604-691-7491 or james.munro@mcmillan.ca.

© 2025 Canjex Publishing Ltd. All rights reserved.