Sanatana Resources Inc. announced a non-brokered private placement of up to 14,444,445 flow-through units priced at CAD 0.09 per FT Unit for the gross proceeds of CAD 1,300,000.05 and up to 10,000,000 non flow-through units priced at CAD 0.07 per NFT unit for the gross proceeds of CAD 700,000 for total gross process of up to CAD 2,000,000.05 on May 7, 2024. Each FT Unit will consist of one flow-through common share and one whole non flow-through share purchase warrant. Each NFT Unit will consist of one share and one whole share purchase warrant.

Each FT Unit Warrant and NFT Unit Warrant will entitle the holder to purchase one non-flow-through share at a price of CAD 0.12 per share for a period of 36 months from the date of closing of the Private Placement. In connection with the Private Placement, the company may pay finder's fees to certain arm's length parties in accordance with the rules of the TSX Venture Exchange in consideration for their efforts in introducing subscribers to the company. Finder's fees related to FT Unit subscribers will be paid from funds raised by the sale of NFT Units.

The company reserves the right to increase or decrease the amount of FT Units and NFT Units offered under the Private Placement, provided that the maximum gross proceeds for both the FT Units and NFT Units issued shall be up to CAD 2,000,000. Closing is subject to prescribed conditions, including, without limitations, approval of the TSX-V. Securities issued under the Private Placement will be subject to a four-month hold period which will expire four months and one day from the date of closing of the Private Placement.