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TORONTO, Oct. 05, 2018 (GLOBE NEWSWIRE) -- Satori Resources Inc. (TSXV:BUD) (“Satori” or the “Company”) announces that it shall increase the non-brokered private placement financing (the "Offering") previously announced on September 24, 2018 from $750,000 to $1,000,000, by issuing up to 20,000,000 Units at a price of $0.05 per Unit.
All other terms remain unamended, namely, that each Unit will consist of one common share in the capital of the Company and one full common share purchase warrant (“Unit Warrant”), each full Unit Warrant entitling the holder to acquire one common share of the Company at a price of $0.06 for a period of 36 months following closing of the Offering.
In connection with the Offering, the Company may pay finders' fees to eligible finders in accordance with the rules of the TSX Venture Exchange (the "TSX-V") and such other regulatory authorities having jurisdiction, the details of which shall be announced at closing.
Completion of the Offering is subject to receipt of TSX-V approval and other requisite approvals. The proceeds of the Offering shall be used for general working capital and assessing potential transactions. All of the securities issuable in connection with the Offering will be subject to a hold period expiring four months and one day after date of issuance.
ABOUT SATORI RESOURCES INC.
Satori is a Toronto-based mineral exploration and development company whose primary property is the Tartan Lake Gold Mine Project (100% interest), located in the Flin Flon mining district, Manitoba, Canada. The Tatran Lake Gold Mine had historical production of approximately 48,000 ounces of gold between 1987-1989. The Project hosts a 450 tonne per day gold concentrator and related infrastructure, along with a decline ramp providing access to developed gold mineralization within the Main and South Zones to a vertical depth of 320 metres.
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For further information, please visit www.satoriresources.ca.
The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) does not accept responsibility for the adequacy or accuracy of this release.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release of Satori contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Satori’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.