Tana Resources Corp. Announces Private Placement Closing

Executive Summary

• Tana Resources Corp. closed a non‑brokered private placement of 4,375,000 shares at $0.04 per share, generating gross proceeds of $175,000.
• Proceeds are earmarked for general working capital purposes.
• Insiders participated in the offering; the transaction qualified as a related‑party transaction under MI 61‑101 and was exempt from formal valuation and minority‑shareholder approval requirements.

Key Details

• Offering size: 4,375,000 shares of common stock.
• Price per share: $0.04.
• Gross proceeds: $175,000.
• Use of proceeds: General working capital.
• Statutory hold period: Shares subject to a hold period expiring on July 20, 2026.
• Finder’s fees: None payable in connection with the offering.
• Insider participation: Certain insiders purchased shares, constituting a related‑party transaction under Multilateral Instrument 61‑101.
• Exemptions relied upon: Sections 5.5(a) and 5.7(1)(a) of MI 61‑101 (fair market value of insider securities ≤ 25% of market capitalization).

Notable Quotes

• “On behalf of the Board of Directors, we are pleased to have successfully closed this financing, which will support our ongoing exploration activities and operational needs.” – Vartan Korajian, President and CEO.