Suche
 
Folgen Sie uns auf:

Sanatana Closes First Tranche of Private Placement

12.05.2022  |  Newsfile

Vancouver, May 12, 2022 - Sanatana Resources Inc. (TSXV: STA) ("Sanatana" or the "Company") is pleased to announce, further to its news release of April 22, 2022, that it has closed a first tranche of its non-brokered private placement (the "Private Placement"). The first tranche consisted of 13,766,667 units of the Company (the "Units") at a price of $0.15 per Unit for gross aggregate proceeds of approximately $2,065,000.

Each Unit issued in the first tranche consisted of one common share of the Company (each, a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"), with each Warrant entitling the holder thereof to acquire one common share of the Company (a "Warrant Share") at a price of $0.20 for a period of two years following the closing of the first tranche of the Private Placement.

Peter Miles, the Company's CEO commented, "With the close of the first tranche of this financing, Sanatana will have in excess of $4,000,000 on hand and expects to begin its 2022 exploration program June 1st with drilling commencing around July 1st. All aspects of the exploration program are in place including over 20 staff, camp facilities, drill and geophysical contractors and helicopter support. We look forward to commencing exploration shortly".

Simon Anderson, Anthony Dutton, Thomas Obradovich and Rose Zanic, insiders of the Company, subscribed for 333,333 Units ($49,999.95), 333,334 ($50,000.10), 500,000 Units ($75,000), 100,000 Units ($15,000) respectively, under the Private Placement (the "Insider Subscriptions"). The Insider Subscriptions constitute "related party transactions" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"). The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101 in respect of the Insider Subscriptions.

In connection with the Private Placement, the Company paid aggregate cash finder's fees totalling $18,000 and issued 120,000 finder's warrants (the "Finder's Warrants") to certain qualified arm's length finders. Each Finder's Warrant is exercisable into one Common Share (a "Finder's Warrant Share") at an exercise price of $0.20 per Finder's Warrant Share on or before May 11, 2024.

All securities issued pursuant to the Private Placement are subject to a statutory hold period expiring on September 12, 2022 in accordance with applicable securities legislation. The proceeds of the Private Placement will be used to fund the upcoming drilling and exploration of the Oweegee Dome project and for general working capital.

The securities offered pursuant to the Private Placement have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About the Company

Sanatana Resources Inc. is a mineral exploration and development company focused on high-impact properties in Canada. With an award-winning technical team and experienced management and board of directors, Sanatana is based in Vancouver and is listed on the TSX Venture Exchange (TSXV: 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 investor@sanatanaresources.com. To be added to the email distribution list, please email ir@sanatanaresources.com with "Sanatana" in the subject line.

Cautionary Note Regarding Forward Looking Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Neither TSX Venture Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/123865


Bewerten 
A A A
PDF Versenden Drucken

Für den Inhalt des Beitrages ist allein der Autor verantwortlich bzw. die aufgeführte Quelle. Bild- oder Filmrechte liegen beim Autor/Quelle bzw. bei der vom ihm benannten Quelle. Bei Übersetzungen können Fehler nicht ausgeschlossen werden. Der vertretene Standpunkt eines Autors spiegelt generell nicht die Meinung des Webseiten-Betreibers wieder. Mittels der Veröffentlichung will dieser lediglich ein pluralistisches Meinungsbild darstellen. Direkte oder indirekte Aussagen in einem Beitrag stellen keinerlei Aufforderung zum Kauf-/Verkauf von Wertpapieren dar. Wir wehren uns gegen jede Form von Hass, Diskriminierung und Verletzung der Menschenwürde. Beachten Sie bitte auch unsere AGB/Disclaimer!




Mineninfo
Sanatana Resources Inc.
Bergbau
A2P4DQ
CA79957A2039
Minenprofile
Alle Angaben ohne Gewähr! Copyright © by GoldSeiten.de 1999-2024.
Die Reproduktion, Modifikation oder Verwendung der Inhalte ganz oder teilweise ohne schriftliche Genehmigung ist untersagt!

"Wir weisen Sie ausdrücklich auf unser virtuelles Hausrecht hin!"