Company offers 12.5 million units of one common share and one warrant
By Devika Patel
Knoxville, Tenn., July 25 - Sanatana Resources Inc. said it plans a C$1 million private placement of units.
The company will sell 12.5 million units of one common share and a warrant at C$0.08 per unit. Each warrant will be exercisable at C$0.12 for two years. The strike price represents a 20% premium to the July 24 closing share price of C$0.10.
Proceeds will be used for general corporate purposes and the costs associated with the hearing before the Ontario Mining and Lands Commissioner in connection with Trelawney Mining and Exploration Inc.'s application for easements over the Watershed Property.
The Vancouver, B.C., company explores for economic minerals.
| Issuer: | Sanatana Resources Inc.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | C$1 million
|
| Units: | 12.5 million
|
| Price: | C$0.08
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.12
|
| Pricing date: | July 25
|
| Stock symbol: | TSX Venture: STA
|
| Stock price: | C$0.10 at close July 24
|
| Market capitalization: | C$10.48 million
|
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