By Laura Lutz
Des Moines, Sept. 18 - Sanatana Diamonds Inc. intends to conduct a private placement of flow-through and non flow-through units for up to C$3 million.
The placement will consist of non flow-through units at C$0.25 apiece and flow-through units at C$0.30 apiece.
No more than C$2 million of flow-through units may be issued.
Each non flow-through unit will consist of one non flow-through share and one half-share non flow-through warrant, with each whole warrant exercisable at C$0.30 for 18 months.
Each flow-through unit will consist of one flow-through share and one half-share non flow-through warrant, with each whole warrant exercisable at C$0.35 for 18 months.
J.F. Mackie & Co. Ltd. will act as agent.
The agent has a greenshoe for up to C$1 million of non flow-through units.
Proceeds will be used for exploration on Sanatana's Mackenzie diamond project and for working capital.
Settlement is expected on Sept. 28.
Sanatana is a diamond exploration company based in Vancouver, B.C.
| Issuer: | Sanatana Diamonds Inc.
|
| Issue: | Units of one non flow-through share and one half-share non flow-through warrant; units of one flow-through share and one half-share flow-through warrant
|
| Amount: | C$3 million
|
| Greenshoe: | For C$1 million of non flow-through units
|
| Agent: | J.F. Mackie & Co. Ltd.
|
| Pricing date: | Sept. 18
|
| Settlement date: | Sept. 28
|
| Stock symbol: | TSX Venture: STA
|
| Stock price: | C$0.28 at close Sept. 17
|
|
|
| Non flow-through units
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.30
|
|
|
| Flow-through units
|
| Amount: | C$2 million (maximum)
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.35
|
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