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Sanatana Resources Announces Closing Of Private Placement
VANCOUVER, British Columbia, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Sanatana Resources Inc. (“Sanatana” or the “Company”: TSX-V: STA) is pleased to announce that it
About this update from Gold Strike Resources Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Sanatana Resources Inc. (“Sanatana” or the “Company”: TSX-V: STA) is pleased to announce that it has closed its previously announced private placement (the “Private Placement”) for aggregate gross proceeds to the Company of approximately $2,000,000. In connection with the Private Placement, Sanatana issued an aggregate 11,500,000 non-flow through units (the “Units”), at a price of $0.10 per Unit, for aggregate proceeds of $1,150,000 and 7,083,332 flow-through units (the “FT Units”), at a price of $0.12 per FT Units, for aggregate gross proceeds of $849,999.84. Each Unit consists of one common share in the capital of Sanatana (a “Share”) and one-half of a share purchase warrant (each whole warrant, a “Unit Warrant”). Each FT Unit consists of one flow-through share (a “FT Share”) pursuant to the Income Tax Act (Canada) and one half of a share purchase warrant (each whole warrant, a “FT Unit Warrant”). Each Unit Warrant will entitle the holder to purchase one non-flow-through Share at a price of $0.18 per Share for a period of 18 months from the date of closing of the Private Placement, subject to acceleration in accordance with its terms. Each FT Unit Warrant will entitle the holder to purchase one non-flow through Share at a price of $0.20 per Share for a period of 18 months from the date of closing of the Private Placement, subject to acceleration in accordance with its terms. In connection with the Private Placement, the Company (i) paid eligible finders (the “Finders”) aggregate cash finders fees of $107,565.99; (ii) issued an aggregate 564,000 compensation options (the “Compensation Options”) to purchase units (“Finder’s Units”) of the Company at an exercise price of $0.10 per Finder’s Unit. Each Finders Unit consists of one Share of the Company and one non-transferable common share purchase warrant (“Finder’s A Warrant”), with each full Finder’s A Warrant entitling the holder to acquire one Share at a price of $0.18 per Share, for a period of 18 months from the date of issuance, subject acceleration in accordance with its terms; and (iii) issued an aggregate 429,216 non-transferable common share purchase warrants (each, a “Finder’s Warrant”), with each Finder’s Warrant entitling the holder to acquire one Share at a price ...