Satori Resources completes $1.28M financing

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By CPE News

Toronto (pcJ News Briefs) – Satori Resources Inc. (TSX-V: BUD) has completed previously announced private placement of 5,788,176 units at $0.17 per unit and 1,764,588 flow-through (FT) common shares at $0.17 per FT share for aggregate gross proceeds of $1,283,970.

Satori Resources has a total of 28,028,507 common shares outstanding.

Each Unit is comprised of one non-flow through common share and one purchase warrant (“Warrant”) entitling the holder to acquire one additional common share at a price of $0.30 for 30 months, or earlier pursuant to acceleration provisions.

Directors and officers of Satori subscribed approximately 19% of the private placement, having purchased an aggregate 1,021,706 of the units and 380,588 FT common shares.

Proceeds will be used to advance the company’s Tartan Lake Gold Mine Project, in Flin Flon, Manitoba, Canada, and for general working capital purposes.

Satori Resources Inc. is a mining exploration company that is evaluating the costs associated with the potential development or re-commissioning of the Tartan Lake Gold Mine project, a historic gold producer, located in Flin Flon, Manitoba, within the prolific Flin Flon Greenstone Belt.

photo credit: Satori Resources