Sanatana Announces Stock Option Grant and Cancellation
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/21/11 -- Sanatana Resources Inc. ("Sanatana" or the "Company") (TSX VENTURE:STA) has granted incentive stock options to consultants and an employee of the Company to purchase up to 400,000 common shares of the Company at a price of $0.50 per share, exercisable for a period of five years. The options are being granted pursuant to the terms of the Company's stock option plan and are subject to regulatory approval. In addition to the stock option grant, the Company also announces that it has cancelled 250,000 stock options granted in February 2011 at an exercise price of $0.30 in accordance with the terms of the Company's stock option plan. Following the grant and cancellation of options, the Company has 7,060,000 stock options outstanding.
About the Company
Sanatana Resources Inc. is a Canadian mineral exploration and development company with interests in Ontario, Yukon and the NWT. Sanatana has entered into an option and joint venture agreement with Augen Gold Corp. that grants Sanatana an option to acquire up to 51% of the Watershed property. 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).
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.
Sanatana Resources Inc.
Mr. Peter Miles
President and Chief Executive Officer
604.408.6680 or Toll Free: 1.877.881.6680