Sanatana Resources Inc.
TSX VENTURE : STA

Sanatana Resources Inc.

October 01, 2014 21:10 ET

Sanatana Closes Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 1, 2014) - Sanatana Resources Inc. ("Sanatana" or the "Company") (TSX VENTURE:STA) has, further to its news releases of September 16 and September 23, 2014, closed the non-brokered private placement of 2,500,000 units (the "Units") at $0.12 per Unit for gross proceeds of $300,000 (the "Offering").

Each Unit consists of one flow-through common share in the capital of the Company and one-half of one share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one additional non-flow-through common share in the capital of the Company (a "Warrant Share") at a price of $0.15 per Warrant Share on or before October 1, 2016.

All securities issued in connection with the Offering are subject to a statutory hold period expiring on February 2, 2015 in accordance with applicable securities legislation.

About the Company

Sanatana Resources Inc. is a Canadian mineral exploration and development company focused on its Watershed Property in Ontario. Sanatana entered into an option and joint venture agreement with Trelawney Augen Acquisition Corp. (formerly Augen Gold Corp.) ("TAAC") which grants Sanatana an option to acquire up to 51% of the Watershed Property consisting of 46 mining claims totalling approximately 19,006 acres and located within the townships of Yeo, Chester, Neveille and Benneweis. As at November 28, 2012, Sanatana exercised its first option and is the legal and beneficial owner of 50% of the Watershed Property. Sanatana has until March 23, 2016, to decide whether to exercise its right to acquire a further 1% in the Watershed Property.

In June 2012, IAMGOLD Corporation completed its acquisition of Trelawney Mining and Exploration Inc. and became the sole indirect shareholders of TAAC. In 2013, Sanatana expanded the Watershed Property by acquiring, for the sole benefit of Sanatana and TAAC, a 20% interest in three additional mining claims located in Yeo and Chester Townships, Ontario. In addition to the Watershed Property, Sanatana also has exploration property in Saskatchewan. With an experienced management team and board of directors, the Company has the ability required to identify, develop and fund economic mineral properties. Sanatana is based in Vancouver and is listed on the TSX Venture Exchange (TSX VENTURE:STA).

SANATANA RESOURCES INC.

Peter Miles, President and Chief Executive Officer

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.

Contact Information