- Sanatana Resources (STA) has closed its upsized private placement for gross proceeds of $550,000
- The company issued 5,500,000 FT units at a price of $0.10 per unit
- The proceeds will be used for mineral exploration at the company’s Oweegee Dome Project
- Sanatana Resources Inc. is a mineral exploration and development company focused on properties in Canada
- Sanatana Resources Inc. (STA) opened trading at C$0.06
Sanatana Resources (STA) has closed its upsized private placement for gross proceeds of $550,000.
The company issued 5,500,000 FT units at a price of $0.10 per unit. Each FT unit consists of one flow-through common share and one common share purchase warrant. Each warrant entitles the holder to purchase one non-flow-through common share for $0.15 until December 30, 2024.
The securities issued are subject to a statutory four-month hold period which expires on May 1, 2023.
The company paid finders’ fees of $41,000 and issued 410,000 compensation warrants.
The proceeds will be used for mineral exploration in British Columbia in connection with the company’s option on the Oweegee Dome.
Company insider Ian Smith subscribed for 500,000 units ($50,000) under the offering.
Sanatana Resources Inc. is a mineral exploration and development company focused on properties in Canada.
Sanatana’s principal project is the Oweegee Dome copper-gold porphyry property located in British Columbia’s Golden Triangle.
Sanatana Resources Inc. (STA) opened trading at C$0.06.
