Renaissance Oil Corp. RNSFF

Santoy increases private placement to $3.25M

[Litex]

Santoy increases private placement to $3.25-million 2005-08-26 14:48 ET - News Release Mr. Ron Netolitzky reports SANTOY INCREASES PRIVATE PLACEMENT FINANCING TO $3.25 MILLION Santoy Resources Ltd., due to a very positive market reception, is increasing its proposed non-brokered private placement financing (see news as reported in Stockwatch on Aug. 23, 2005) to $3.25-million. The flow-through portion will increase to $2.5-million, and the non-flow-through portion will increase to $750,000. Each flow-through share will remain priced at 45 cents per share, and each non-flow-through unit will comprise one common share at 40 cents and one-half of one share purchase warrant exercisable at 55 cents per share in year one and at 65 cents per share in year two. The warrants will have an accelerator clause wherein the remaining exercise period may be reduced, upon notice and at the election of the company, to 30 days if the shares trade at or greater than 75 cents per share for 20 consecutive trading days. The offering, to be undertaken on a best efforts basis by the company, will be sold in Ontario, Alberta, British Columbia and Saskatchewan. Finders' fees may be payable on that portion of the funds raised by accredited third parties. The financing is subject to regulatory approval. The proceeds of this private placement will be used to advance Santoy's uranium projects located in British Columbia, Saskatchewan, Manitoba and in the central mineral belt of Labrador; to advance Santoy's coal and coalbed methane projects located in Western Canada; and for general working purposes.