THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR
DISSEMINATION IN THE UNITED STATES
Sanatana Diamonds Inc. ("Sanatana" or the "Company") (TSX
VENTURE:STA). Further to its news releases of
December 15, 2010 (the "December 15th News Release"),
December 17, 2010 and December 30, 2010, Sanatana
is pleased to announce that it has closed the second tranche of the
private placement (the "Offering") and has issued an
additional 450,000 flow-through shares (the "FT Shares") for
gross proceeds of $76,500. The Company will renounce an amount equal to
the gross proceeds derived from the sale of the FT Shares to purchasers
in accordance with the provisions of the Income Tax Act (Canada). All
securities issued in the closing of the first tranche will be subject
to a hold period which expires May 1, 2011.
In connection with the second tranche closing, the Company also paid an
aggregate cash commission of $4,590 to an arm's length finder (equal to
6% of the subscriptions placed by the finder).
The funds raised from the first tranche will be used for the purposes
described in the December 15th News Release.
About the Company
Sanatana Diamonds Inc. is an exploration
stage company seeking new projects to complement its existing
properties in the Northwest Territories and the Yukon. With an
experienced management team and board of directors, Sanatana
has the skills 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 DIAMONDS INC.
Peter Miles, President and Chief Executive Officer
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the United
States. The securities have not been and will not be registered under
the United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.
Cautionary Statement Regarding "Forward-Looking" Information
Some of the statements contained in this press 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 "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.
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