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Sanatana Resources Announces Private Placement for up to $500,000 in Gross Proceeds
Vancouver, British Columbia--(Newsfile Corp. - December 21, 2022) - Sanatana Resources Inc. (TSXV: STA) ("Sanatana" or the "Company") is pleased to announce a n
About this update from Gold Strike Resources Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - December 21, 2022) - Sanatana Resources Inc. (TSXV: STA) (\"Sanatana\" or the \"Company\") is pleased to announce a non-brokered private placement of up to 5,000,000 flow-through units of the Company (the \"FT Units\") for aggregate gross process of up to $500,000 and priced at $0.10 per FT Unit (the \"Private Placement\"). Each FT Unit will consist of one common share (a \"Share\") which will be designated as a flow-through share (a \"FT Share\") pursuant to the Income Tax Act (Canada) and one share purchase warrant (a \"FT Unit Warrant\"). Each FT Unit Warrant will entitle the holder to purchase one non-flow-through Share at a price of $0.15 per Share for a period of 24 months from the date of closing of the Private Placement. In connection with the Private Placement, the Company may pay finder's fees to certain arm's length parties in accordance with the rules of the TSX-V in consideration for their efforts in introducing subscribers to the Company. Closing is subject to a number of prescribed conditions, including, without limitations, approval of the TSX-V. The securities to be issued under the Private Placement 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 Private Placement will be subject to a four-month hold period which will expire four months and one day from the date of closing of the Private Placement. The proceeds from the Private Placement are expected to be used by the Company for exploration in British Columbia in connection with the Company's option on the Oweegee Dome property. 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's principal project is the Oweegee Dome copper-gold porphyry property which is situated 40 km east of the KSM - Brucejack - Treaty Creek cluster of base and precious metal deposits and is underlai...