Saturn Minerals Inc. has completed the first tranche for 3,200,000 units in connection with a Private Placement previously announced on March 23, 2015, of up to 4,500,000 flow-through units (the "FT Units") at a price of $0.18 per FT Unit.
Each FT Unit consists of one flow-through common share (the "FT Shares") and one-half of a non flow-through share purchase warrant (the "NFT Warrants"). Each whole NFT Warrant will entitle the holder to purchase one additional non flow-through common share, exercisable at a price of $0.30 per share for a period of 18 months from the date of issue of the NFT Warrant.
The FT Shares will entitle the holder to receive the tax benefits applicable to flow-through shares, in accordance with provisions of the Income Tax Act (Canada).
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Saturn Minerals Inc.
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