VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/19/16 -- Sanatana Resources Inc. ("Sanatana" or the "Company") (TSX VENTURE: STA) has reached a settlement with its former director, Barry Fraser, regarding amounts due to him. For cash payment of $65,000 and issuance of 1,000,000 common shares, the Company settled an obligation to pay $56,000 in director fees and a success fee of $103,494 on the sale of the Watershed Property. The common shares issued will be subject to a hold period of four months and a day from the date of issuance.
The debt settlement is subject to the approval of the TSX Venture Exchange.
About the Company
Sanatana Resources Inc. is a mineral exploration and development company. With an experienced management team and board of directors, the Company has the ability required to identify, develop and fund economic mineral properties. Sanatana is based in Vancouver and is listed on the TSX Venture Exchange (TSX VENTURE: STA).
SANATANA RESOURCES INC.
Peter Miles, President and Chief Executive Officer
Cautionary Statement Regarding "Forward-Looking" Information
Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "plans", "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond Sanatana's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Sanatana Resources Inc.
Mr. Peter Miles
President and Chief Executive Officer