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BUD Satori Resources Inc

0.31
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Satori Resources Inc TSXV:BUD TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.31 0.31 0.32 0 01:00:00

Satori Continues to Uncover Encouraging Information About the Tailings at Tartan Lake Gold Mine, Flin Flon Manitoba

27/03/2012 2:12pm

Marketwired Canada


THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES


Satori Resources Inc. (TSX VENTURE:BUD) ("Satori" or the "Company") announces
that its ongoing efforts to compile information about the gold potential in the
tailings pond at the Tartan Lake Gold Mine continues to provide management with
a very encouraging level of confidence. Desk-top due diligence of old reports
and intriguing correspondence has expedited the Company's efforts toward the
assessment of a summer processing program, in anticipation of the potential to
generate sufficient funds to re-commission, in whole or in part, if at all, the
Tartan Lake Gold Mine. Engineers are currently being engaged in preparation for
this undertaking.


The Company further announces the closing of the first tranche of its
non-brokered private placement offering for gross proceeds of $50,000. The
Company issued 625,000 flow-through units at a price of $0.08 per flow-through
unit. Each flow-through unit consists of one common share of Satori and one half
of one non-transferable share purchase warrant. Each full purchase warrant
entitles the holder to acquire an additional non-flow-through common share of
the Company at a price of $0.13 at any time within 24 months of issuance. 


In connection with this first tranche closing, the Company paid an aggregate
$2,800 in Finders' Fees (7% cash) and issued 35,000 Finder Warrants to eligible
Finders, representing 7% of the number of units placed by eligible Finders. Each
Finder Warrant entitles the holder to acquire one non-flow through common share
at an exercise price of $0.10 at any time within 24 months of issuance. 


The securities comprising the units are subject to a hold period and may not be
traded for four months from issuance.


The proceeds from the sale of the units will be used for exploration activities
and eligible ongoing efforts to re-commission the Tartan Lake Gold Mine Project,
Flin Flon, Manitoba. 


The Company anticipates closing subsequent tranches of this non-brokered private
placement, which has amended terms as set out above, from the previous
announcement on February 21, 2012.


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 prolific Flin Flon Greenstone Belt, Manitoba. 


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.


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