Sanatana Signs Agreement to Acquire Ontario Gold Exploration Property
Vancouver, British Columbia--(Newsfile Corp. - June 3, 2022) - Sanatana Resources Inc. (TSXV: STA) ("Sanatana" or the "Company") has entered into an agreement (the "Agreement") with Robert Laviolette and John der Weduwen (the "Vendors"), arm's length parties to Sanatana, to acquire a gold exploration property in Ontario. Pursuant to the Agreement, Sanatana will acquire a 100% interest in the Enid property in the Timmins, Ontario region. The property comprises 41 mineral claims. The Company will pay cash of $10,000; 30,000 common shares in the capital of the Company (the "Shares"); and provide a 2% net smelter royalty ("NSR"). Sanatana may purchase 1% of the NSR for $350,000 and a further 0.5% of the NSR for $500,000 at any time.
The Shares to be issued pursuant to the Agreement will be subject to a hold period of four months and a day from the date of issuance. The Agreement is subject to TSX Venture Exchange approval.
About the Company
Sanatana Resources Inc. is a mineral exploration and development company focused on high-impact properties in Canada. With an award-winning technical team and experienced management and board of directors, Sanatana is based in Vancouver and is listed on the TSX Venture Exchange (TSXV: STA).
SANATANA RESOURCES INC.
(signed) "Peter Miles"
Peter Miles
Chief Executive Officer
For additional information on the Company, please contact Mr. Peter Miles, Chief Executive Officer at (604) 408-6680 or email investor@sanatanaresources.com. To be added to the email distribution list, please email ir@sanatanaresources.com with "Sanatana" in the subject line.
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither TSX Venture Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/126519
