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Published on 6/28/2013 in the Prospect News PIPE Daily.

Santo Mining could raise $16 million through stock purchase agreement

Three-year investment agreement planned with investor Hanover Holdings

By Devika Patel

Knoxville, Tenn., June 28 - Santo Mining Corp. arranged a $16 million three-year common stock purchase agreement with Hanover Holdings I, LLC on June 20, according to an 8-K filed Friday with the Securities and Exchange Commission.

The shares will be sold at a purchase price equal to 92.5% of the arithmetic average of the five lowest volume-weighted average prices that equal or exceed the product of 0.70 and the volume-weighted average price over the 10 trading days immediately preceding the put notification date.

Each tranche will be limited to 300% of the average daily trading volume of the stock for the five trading days immediately preceding the put notification date.

Santo is a gold and polymetallic mining company based in Santo Domingo, Dominican Republic.

Issuer:Santo Mining Corp.
Issue:Common stock purchase agreement
Amount:$16 million
Tenor:Three years
Price:92.5% of the arithmetic average of the five lowest volume-weighted average prices that equal or exceed the product of 0.70 and the volume-weighted average price over the 10 trading days immediately preceding the put notification date
Warrants:No
Investor:Hanover Holdings I, LLC
Settlement date:June 20
Stock symbol:OTCBB: SANP
Stock price:$0.14 at close June 19
Market capitalization:$8.33 million

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