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Natan Resources Limited: Announces Non-Brokered Financing

26.07.2016  |  FSCwire
Vancouver - Natan Resources Ltd. (the “Company”) announces that it intends to complete a non-brokered private placement financing (the "Offering") for gross proceeds up to $800,000. Pursuant to the Offering, the Company intends to issue: (a) up to 2,500,000 units ("Hard Units"), at a price of $0.20 per Hard Unit, for aggregate gross proceeds of up to $500,000; and (b) up to 1,200,000 "flow-through" units ("FT Units"), at a price of $0.25 per FT Unit, for aggregate gross proceeds of $300,000. The proceeds from the sale of FT Units will be used for Canadian Exploration Expenses (within the meaning of the Income Tax Act (Canada)) and will be renounced for the current taxation year.

Each Hard Unit will consist of one common share in the capital of the Company and one half of one common share purchase warrant (each whole common share purchase warrant, a "Hard Unit Warrant"), with each Hard Unit Warrant being exercisable to acquire one common share of the Company at a price of $0.30 for a period of 36 months following the closing date of the Offering. Each FT Unit will consist of one "flow-through" common share in the capital of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a "FT Unit Warrant"), with each FT Unit Warrant being exercisable to acquire one common share of the Company at a price of $0.30 for a period of 36 months following the closing date of the Offering.

Completion of the Offering is subject to receipt of TSX-V approval and other requisite approvals. All of the securities issuable in connection with the Offering will be subject to a hold period expiring four months and one day after date of issuance.

A finder's fee in shares, cash, warrants or a combination of all may be payable in connection with this placement which will not exceed the maximum allowable under the policies of the TSX Venture Exchange. The offering and finder's fee are subject to completion and execution of appropriate documentation and acceptance for filing by the TSX Venture Exchange.


On behalf of the Board of Directors Natan Resources Ltd.



For further information regarding this news release contact:

Natan Resources Ltd.
Michael Blady, CEO
Tel: (604) 720-3474



This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although we believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of our management on the date the statements are made. Natan Resources Ltd.. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transactions and has neither approved nor disapproved the contents of this press release.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATED SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

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