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Sanatana Announces TSX-V Conditional Approval of Transaction to Acquire Gold Strike One Project (Yukon) and Abitibi Property (Quebec)
Newsfileยท 2025-09-23 22:51
Core Viewpoint - Sanatana Resources Inc. has received conditional approval from the TSX Venture Exchange for the acquisition of the Gold Strike One Project in Yukon and the Abitibi Property in Quebec, marking a significant step in the company's growth strategy [1][2]. Group 1: Proposed Acquisition - The acquisition involves a non-arm's length "Reverse Takeover" as defined by TSX-V Policy 5.2 [1]. - The resulting entity will operate under the name "Gold Strike Resources Corp." with the ticker symbol "GSR" [2]. - The completion of the acquisition is subject to customary closing conditions, including shareholder approvals and final acceptance from TSX-V, with an expected closing date in September 2025 [9]. Group 2: Concurrent Financing - Sanatana has announced a non-brokered private placement of up to 8,800,000 units at a price of $0.60 per unit, aiming for gross proceeds of up to $5,280,000, with a potential over-allotment of 15% [3][4]. - A minimum of $4,300,000 in gross proceeds must be raised through this financing to meet TSX-V listing requirements for the acquisition [4]. Group 3: Regulatory Compliance - The company has filed a TSX-V filing statement dated September 23, 2025, providing detailed information about the acquisition and the target assets [6]. - Sanatana is seeking an exemption from the shareholder meeting requirement to expedite the approval process, which would allow for closing the acquisition on an accelerated basis [7][8].