Toronto, Ontario--(Newsfile Corp. - July 6, 2020) - Satori Resources Inc. ("Satori" or the "Company") announces that it shall increase its previously announced private placement offering, such that the gross proceeds will be up to $350,000. All other terms announced on June 18, 2020 shall remain unamended.
Further, in addition to utilizing external consultants familiar with the Tartan Lake Gold Mine Project in Flin Flon, Manitoba, Satori is actively seeking to increase its technical team in order to further progress Tartan's development plan.
The Company plans to use the proceeds of the offering for general working capital, and to carry out a summer program that will provide a better understanding of the full extent of Satori's 2,670 hectares of claims, of which the historic Tartan Lake Gold mine is hosted in one specified area within the westerly portion of the land package.
Lastly, Satori announces that in reliance on BC Instrument 51-516 ─ Temporary Exemptions from Certain Requirements to File or Send Securityholder Materials (published on May 1, 2020), it will include the executive compensation disclosure in its management information circular at the time that it calls the Company's 2020 Annual General Meeting of shareholders, which is required to be held on or before December 31, 2020.
Satori will provide shareholders with the same disclosure documents the shareholders would normally receive ahead of an annual meeting, in accordance with applicable legislation, including the executive compensation disclosure.
ABOUT SATORI RESOURCES INC.
Satori is a Toronto-based mineral exploration and development company whose primary property is the past producing Tartan Lake Gold Mine Project, located in the prolific Flin Flon Greenstone Belt, Manitoba.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Mr. Pete Shippen
Chair, Satori Resources Inc.
pjs@extramedium.ca
416-930-7711
Jennifer Boyle, B.A., LL.B
President and Chief Executive Officer
Satori Resources Inc.
(416) 904-2714
jennifer@capexgroupinc.com
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CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release of Satori contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Satori's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
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