Satori Closes Private Placement Financing

Satori Closes Private Placement Financing

Satori Resources Inc. (TSXV: BUD) ("Satori" or the "Company") is pleased to announce that it has closed its private placement offering for gross proceeds totaling $2,144,050. The Company issued 7,154,737 flow through common shares at a price of $0.19, and 5,231,000 common shares at a price of $0.15 per share.

The proceeds from the issuance of flow through common shares shall be used for exploration activities that qualify as Canadian Exploration Expenses under the Income Tax Act (Canada), and proceeds from the issuance of common shares shall be used for working capital.

In connection with this closing, the Company paid cash finders' fees totaling $89,901.00 to eligible finders. All of the securities issuable in connection with the offering are subject to a hold period expiring four months and one day after date of issuance.

Officers and directors of the Company subscribed for 865,000 common shares, for gross proceeds of $134,350 (7%), which resulted in related party considerations pursuant to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Satori relied on the exemptions contained in section 5.5(a) of MI 61-101 for an exemption from the formal valuation requirement and Section 5.7(a) of MI 61- 101 for an exemption from the minority approval requirement as the fair market value of the securities distributed under the offering, insofar as it involved interested parties, did not exceed 25% of Satori's market capitalization.

ABOUT Satori Resources Inc. (TSXV: BUD)

Satori is a Toronto-based mineral exploration and development company whose primary property is expanding the resource at the past producing Tartan Lake Gold Mine Project, located in the prolific Flin Flon Greenstone Belt, Manitoba.

The Tartan Lake Project (2,670 Ha.) is located approximately 12 kilometres northeast of Flin Flon, Manitoba, and includes the Tartan Lake Mine (1986-1989) which produced 36,000 ounces of gold before the mine was shut down due to, in part, the price of gold falling below USD$390. Remaining infrastructure includes: an indicated resource estimate of 240,000 ounces averaging 6.32 g/t Au (see news release February 23, 2017), an all-season access road, grid connected power supply, mill, mechanical, warehouse and office buildings, tailing impoundment and a 2,100 metre decline and developed underground mining galleries to a depth of 300 metres from surface. Gold mineralization is associated with anastomosing quartz-carbonate veins hosted in east-west striking, steeply dipping shear zones up to 30 metres in width. The veins vary from several centimetres to several metres in width and gold grades vary from 1.0 to +100 g/t. Satori believes the mineral resources of the project are currently limited by drill coverage.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Jennifer Boyle, B.A., LL.B.
President and Chief Executive Officer
Satori Resources Inc.
(416) 904-2714
jennifer@capexgroupinc.com

Mr. Pete Shippen
Chair, Satori Resources Inc.
(416) 930-7711
pjs@extramedium.ca

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 release.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of Satori contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Satori's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108767

News Provided by Newsfile via QuoteMedia

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Satori Resources Inc. (TSXV: BUD) ("Satori" or the "Company") is pleased to announce the commencement of its fall drilling campaign at the Tartan Lake Project, Flin Flon, Manitoba.

The Company plans to test the Hanging Wall Zone (in Main Zone) to extend the significant mineralization that was intersected in hole TLMZ21-12, which returned 47.56 g/t Au over 5.8 metres, within a broader interval that averaged 23.76 g/t Au over 12.6 metres (see news release dated December 6, 2021). This intercept is the second highest value intercept ever recorded at Tartan Lake Main Zone and the Company believes that the physical differences in lithology and mineralization tenor suggest that this could represent the upper portion of a new zone in the hanging wall of the Main Zone trend.

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If you cannot view the video above, please visit:

https://b-tv.com/satori-resources-developing-the-100-owned-tartan-lake-gold-mine-project-btv-investing-news-ceo-clips-60sec

Satori Resources Inc. (TSXV: BUD) (OTCQB: STRRF)

https://satoriresources.ca/

About CEO Clips:

CEO Clips is the largest library of publicly traded company CEO videos in Canada and the US. These 60 second video profiles broadcast on national TV and online via 12 financial sites including: Thomson Reuters, Bloomberg, Yahoo! Finance and Stockhouse.com.

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Contact: Trina Schlingmann (604) 664-7401 x 5 trina@b-tv.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/127152

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