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Sanatana Closes Tranche 1 of Private Placement

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Sanatana Closes Tranche 1 of Private Placement

 

 

 

 

 

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.

 

Posted March 21, 2019

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