Sanatana Announces Private Placement
Vancouver, British Columbia, Canada, December 3, 2020. Sanatana Resources Inc. (“Sanatana” or the “Company”: TSX-V: STA) has arranged a non-brokered private placement of up to 5,000,000 flow-through units (the “FT Units”) at $0.25 per FT Unit for gross proceeds of up to $1,250,000 (the “Offering”). Each FT Unit will consist of one flow-through common share in the capital of the Company (a “FT Share”) and one-half of one share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to purchase one non-flow-through common share in the capital of the Company (a “Warrant Share”) at a price of $0.35 per Warrant Share for a period of 24 months from the closing of the Offering.
The net proceeds from the Private Placement are expected to be used for mineral exploration and development of the Company’s properties in Ontario.
The Company may pay a finder’s fee on the Offering within the amount permitted by the policies of the TSX Venture Exchange (the “Exchange”). Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the Exchange.
All securities issued in connection with the Offering will be subject to a statutory 4-month hold period from closing in accordance with applicable securities legislation.
The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
All references to currency in this news release are to Canadian currency.
About the Company
Sanatana Resources Inc. is a mineral exploration and development company focused on high-impact properties in Canada and the Western Pacific. 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 (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 investor@sanatanaresources.com.
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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.