Sanatana to prepare financial results for target assets

Executive Summary

• Sanatana Resources Inc. provided an update on its definitive agreement to acquire the Gold Strike One project (Yukon) and the Abitibi property (Quebec) from Lireca Resources Inc. and Florin Resources Inc.
• The acquisition is a non‑arm’s‑length reverse takeover; the combined entity will be renamed Gold Strike Resources Corp. and expected to be classified as a Tier 2 mining issuer.
• Closing has been delayed due to TSX‑V requirements for target financial statements; new anticipated closing date is September 2025, subject to regulatory and shareholder approvals.

Key Details

• Definitive Agreement Date: July 1 2025 (originally announced July 3 2025).
• Target Assets: Gold Strike One project (Yukon) and Abitibi property (Quebec).
• Transaction Structure: Non‑arm’s‑length reverse takeover; Sanatana will continue as the operating business under the new name Gold Strike Resources Corp.
• Regulatory Filings: Preparing TSX‑V filing statement; expects to file on SEDAR+ in September 2025.
• Shareholder Approval: Seeking minority shareholder consent via written consent per TSX‑V Policy 5.2; applied to OSC for exemption from a formal shareholders’ meeting under MI 61‑101.
• OSC Exemptive Relief: Pending; if denied, a shareholders’ meeting and information circular will be required, potentially delaying the transaction.
• Closing Conditions:
• TSX‑V and other regulatory approvals.
• Customary closing conditions (e.g., receipt of shareholder consents).
• Any additional conditions set out in the definitive agreement.
• Anticipated Closing: September 2025, delayed from earlier timeline due to requirement for target financial statements in filing statement.

Notable Quotes

(No direct quotes were provided in the release.)