Sanatana Resources Inc. (TSX-V: STA) has, further to its news releases of February 7,  2019, closed tranche 1 of a non-brokered private placement of 34,493,500 units at $0.05 per Unit for gross proceeds of $1,724,675.

Each Unit consists of one common share in the capital of the Company and one non-transferable share purchase warrant. Each Warrant entitles the holder to purchase one additional common share at a price of $0.10 per Warrant Share on or before March 20, 2022.

In connection with the Tranche 1 Closing, the Company paid eligible finders aggregate commissions of $103,577.25. The Company also issued a total of 2,029,545 non-transferable finder’s warrants. Each Finder Warrant will entitle the holder thereof to purchase an additional common share at a price of $0.10 per common share for a period expiring on March 20, 2022.

All securities issued in connection with the Tranche 1 Closing are subject to a statutory hold period expiring on July 21, 2019 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. Sanatana’s present focus is the 282km2 Tirua project in the Solomon Islands, South West Pacific.