Vancouver (pcJ News Briefs) – Sanatana Resources Inc. (TSX-V: STA) has closed a non-brokered private placement of 10,870,000 flow-through units at $0.05 per unit for gross proceeds of $543,500.
Each FT unit consists of one flow-through common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional non-flow-through common share at a price of $0.10 per share on or before March 21, 2019, subject to acceleration.
Proceeds will be used for exploration on the company’s Jackfish Property in Ontario.
Sanatana Resources expects to close the private placement of non flow-through units as announced in the news release dated February 27, 2017 before the end of March 2017.
photo credit: Sanatana Resources