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Sanatana Resources Announces TSX-V Conditional Approval of Transaction to Acquire Gold Strike One Project (Yukon) and Abitibi Property (Quebec)
Vancouver, British Columbia--(Newsfile Corp. - September 23, 2025) - Sanatana Resources Inc. (TSXV: STA) ("Sanatana" or the "Company") is pleased to announce th
About this update from Gold Strike Resources Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - September 23, 2025) - Sanatana Resources Inc. (TSXV: STA) (\"Sanatana\" or the \"Company\") is pleased to announce that the Company has received conditional approval from the TSX Venture Exchange (\"TSX-V\") in respect of the previously announced transaction to acquire the Gold Strike One Project (Yukon) and the Abitibi Property (Quebec) (collectively, the \"Target Assets\") from LIRECA Resources Inc. (\"LIRECA\") and LIRECA's affiliate, Florin Resources Inc., as initially announced on July 3, 2025 (the \"Proposed Acquisition\"). The Proposed Acquisition is a non-arm's length \"Reverse Takeover\" for Sanatana, as such term is defined in TSX-V Policy 5.2 – Change of Business and Reverse Takeovers (\"Policy 5.2\"). The Company resulting from the Proposed Acquisition (the \"Resulting Issuer\") will continue the business of Sanatana as a Tier 2 mining issuer on the TSX-V, operating under the name \"Gold Strike Resources Corp.\" and with the ticker symbol \"GSR\". Update on Concurrent Financing In connection with the Proposed Acquisition, Sanatana previously announced a non-brokered private placement of up to 8,800,000 units of the Company (each, a \"Unit\") at a price of $0.60 per Unit for gross proceeds of up to $5,280,000 (the \"Concurrent Financing\"), subject to an over-allotment right pursuant to which the Company can increase the size of the Concurrent Financing (the \"Over-allotment\") by 15% (i.e. up to an additional $792,000 through the sale of up to 1,320,000 Units, for aggregate gross proceeds of $6,072,000). The Company confirms that it must raise a minimum of $4,300,000 in gross proceeds through the Concurrent Financing to satisfy TSX-V listing requirements for the Proposed Acquisition. Further details on the Concurrent Financing, including the terms of the securities offered thereunder, can be found in the Company's news releases dated July 3, 2025 and July 22, 2025. 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 ...