Satori Resources Inc.
TSX VENTURE : BUD

Satori Resources Inc.

May 01, 2012 09:30 ET

Satori Files Annual Financial Statements

TORONTO, ONTARIO--(Marketwire - May 1, 2012) -

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S.A.

Satori Resources Inc. (TSX VENTURE:BUD) ("Satori" or the "Company") announces that it has filed its 2011 annual financial statements and management's discussion and analysis. Both are available under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.SatoriResources.ca.

Satori further announces that it closed a subsequent tranche of the flow-through private placement offering that was first announced on February 21, 2012. The Company ultimately amended the terms of the offering, in order that each subscriber received a flow-through unit at a price of $0.08 per unit, each unit being comprised of one flow-through common share and one half of one non-flow-through purchase warrant, each full warrant being exercisable at $0.13 per share for a period of two years from closing. Finders' fees representing ten percent in cash and the issuance of a number of finders' warrants equal to ten percent of the units placed was paid to eligible finders, entitling the finder to acquire one non-flow-through common share of the Company at a price of $0.10 for two years.

On March 27, 2012, the Company announced the closing of the first tranche of the offering, issuing 625,000 flow-through units for gross proceeds of $50,000. Satori subsequently issued an additional 125,000 flow -through units for gross proceeds of $10,000 on the same terms. In aggregate, the Company issued 750,000 flow-through units for gross proceeds of $60,000 and paid an aggregate of $2,000 in finders' fees (not $2,800 as previously announced) and issued 25,000 finders' warrants.

ABOUT SATORI RESOURCES INC.

Satori is a Toronto-based mineral exploration and development company whose primary property is the Tartan Lake Gold Mine Project (100% interest), located in the prolific Flin Flon Greenstone Belt, Manitoba.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of Satori contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Satori's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical and there can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Satori Resources Inc.
    Jennifer Boyle, B.A., LL.B
    President and Chief Executive Officer
    (647) 430.0966 or Cell: (416) 904.2714

    Satori Resources Inc.
    Jeff Kilborn
    Executive Vice President
    (647) 430.0966 or Cell: (416) 723.3916
    www.satoriresources.ca