|By Marketwired .||
|February 28, 2014 09:00 AM EST|
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/28/14 -- Sanatana Resources Inc. ("Sanatana" or the "Company") (TSX VENTURE: STA) has retained Valeo Communications Corp. ("Valeo"), effective February 14, 2014, as an investor relations consultant, subject to approval of the TSX Venture Exchange (the "Exchange"). The initial term of the contract is six months and it will be extended automatically for an additional six-month term. The Company has the right to terminate the contract by providing 15 days advance written notice.
Matthew Hallaran ("Hallaran") is the principal of Valeo and will be responsible for investor relations activities related to the Company. Valeo will provide investor relations and marketing services for the Company including, but not limited to, acting in a liaison capacity between the directors and senior officers of the Company, the shareholders and persons registered to trade in securities, and to circulate to investors, at their request, quarterly reports and other material financial or information documentation of the Company.
Valeo neither holds any securities of the Company nor has any interest, direct or indirect, in the Company. Valeo and its principals do not engage in market making activities and will restrict their services to public relations and investor relations counseling. As consideration for services provided, the Company will pay Valeo a fee of $3,500 per month plus applicable taxes for the duration of the term. The Company has also granted to Hallaran, under its shareholder-approved share option plan, incentive stock options to purchase up to 500,000 common shares of the company (the "Shares") exercisable for a period of two years at a price of $0.10 per Share. The options will vest in stages over a 12-month period. The issuance of the stock options to Hallaran is subject to the acceptance of the Exchange.
About the Company
Sanatana Resources Inc. is a Canadian mineral exploration and development company focused on its Watershed property in Ontario. Sanatana entered into an option and joint venture agreement with Trelawney Augen Acquisition Corp. (formerly Augen Gold Corp.) ("TAAC") which grants Sanatana an option to acquire up to 51% of the Watershed Property. As at November 28, 2012, Sanatana exercised its first option and is the legal and beneficial owner of 50% of the Watershed Property. Sanatana has until March 23, 2016, to decide whether to exercise its right to acquire a further 1% in the Watershed Property.
In June 2012 IAMGOLD Corporation completed its acquisition of Trelawney Mining and Exploration Inc. and became the sole indirect shareholders of TAAC. In 2013, Sanatana expanded the Watershed Property by acquiring, for the sole benefit of Sanatana and TAAC, a 20% interest in three additional mining claims located in Yeo and Chester Townships, Ontario. 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
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.