Renaissance Oil Corp. RNSFF

NEWS FROM STOCKWATCH

[benjomania8]

Santoy Resources to raise up to $1-million at 58 cents 2006-12-06 18:01 ET - News Release Mr. Ron Netolitzky reports SANTOY PROPOSES $1 MILLION PRIVATE PLACEMENT FINANCING Santoy Resources Ltd. proposes to raise up to $1-million as a non-brokered private placement financing by the issuance of units which will be sold at a price of 58 cents. Each unit will be composed of one common share and one-half of one common share purchase warrant. Each full warrant will be exercisable into one common share of the company at an exercise price of 90 cents for a period of two years from the closing date. The warrants will be subject to an accelerated expiry, wherein the expiry period of the warrants may be reduced, upon notice to holders and at the election of the company, if the closing price of the shares is equal to or greater than $1.20 per share for 10 consecutive trading days. If this condition is met and the company so elects, the exercise period will be reduced to 25 business days from the date notice is provided by the company to the warrantholders. This financing is subject to regulatory approval and finders' fees may be paid to accredited agents on that portion of the funds raised by third parties. The shares issued under this financing will be subject to a hold period of four months plus one day from the date of closing of the offering. The funds will be applied to general working capital. We seek Safe Harbor.