VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 30, 2017) -
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
Sanatana Resources Inc. ("Sanatana" or the "Company") (TSX VENTURE:STA) has, further to its news releases of February 17, February 27, and March 23, 2017, closed a non-brokered private placement of 3,720,000 non-flow-through units (the "NFT Units") at $0.05 per Unit for gross proceeds of $186,000 (the "Tranche 2 Closing").
Each NFT Unit consists of one common share in the capital of the Company and one share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional non-flow-through common share (a "Warrant Share") at a price of $0.10 per Warrant Share on or before March 29, 2019, subject to acceleration on terms summarized in the Company's news release dated February 27, 2017.
The Company paid an eligible finder a commission of $1,200 (the "Finder's Fee").
All securities issued in connection with the Tranche 2 Closing are subject to a statutory hold period expiring on July 30, 2017 in accordance with applicable securities legislation.
About the Company
Sanatana Resources Inc. is a mineral exploration and development company. 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
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.