Sanatana receives conditional OK for proposed RTO

Executive Summary

• Sanatana Resources received conditional TSX‑V approval to acquire the Gold Strike One project (Yukon) and the Abitibi property (Quebec) from LIRECA Resources and Florin Resources.
• The acquisition will be executed as a non‑arm’s‑length reverse takeover, after which the combined entity will operate as Gold Strike Resources Corp. (ticker GSR).
• Closing is targeted for September 2025, subject to customary conditions and receipt of at least $4.3 million in gross proceeds from a concurrent private placement financing.

Key Details

• Conditional Approval: TSX‑V has conditionally approved the proposed acquisition as announced on July 3 2025.
• Transaction Structure: Non‑arm’s‑length reverse takeover; post‑closing entity will be Gold Strike Resources Corp., a Tier 2 mining issuer on TSX‑V (ticker GSR).
• Concurrent Financing:
• Private placement of up to 8.8 million units at C$0.60 per unit → gross proceeds up to $5.28 M.
• Overallotment right allows an additional 15 % (up to 1.32 million units) for extra $792 k, raising total possible proceeds to $6.072 M.
• Minimum required gross proceeds: $4.3 M to satisfy TSX‑V listing requirements.
• Regulatory Filings:
• TSX‑V filing statement dated Sept. 23 2025 filed, containing detailed information on the target assets and transaction.
• Application submitted to the Ontario Securities Commission for exemption from a shareholder meeting under MI 61‑101; disclosure document filed July 31 2025.
• Shareholder Approval: Company expects to obtain minority shareholder consent via written consent; if exemption is denied, a formal meeting will be called, potentially delaying closing.
• Closing Conditions & Timeline: Closing subject to customary conditions (shareholder approvals, TSX‑V acceptance, etc.) and is expected in September 2025.

Notable Quotes

(No direct quotes were provided in the release.)