Satori Resources Engages Market-Maker
Toronto, Ontario--(Newsfile Corp. - November 26, 2021) - Satori Resources Inc. (TSXV: BUD) ("Satori" or the "Company"), is pleased to announce that it has entered into a liquidity services agreement with Red Cloud Securities Inc. ("Red Cloud") whereby Red Cloud shall, subject to regulatory approval, provide market-making services to the Company in accordance with applicable securities laws and the policies of the TSX Venture Exchange ("Exchange"). Red Cloud will manage trading of the Company's shares from time to time for the purposes of maintaining an orderly market, with a view to reducing trading volatility and improving the liquidity of the Company's shares. Satori shall pay Red Cloud a committed fee of $5,000 per month for the services during the first two months, and thereafter, the agreement may be terminated by either party by providing 30 days prior written notice. There are no additional performance factors, shares, or options offered as compensation. Red Cloud is arm's length and independent from the Company.
Red Cloud is a private and independent investment dealer and member of the Investment Industry Regulatory Organization of Canada based in Toronto, Ontario.
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, a conclusion supported by recent drill results including 9.73 g/t Au over 4.15 metres at the Main Zone in a hole 200 meters down plunge of the historical drill coverage. At the adjacent South Zone, the 2021 drilling returned 9.59 g/t Au over 11.75 metres, the highest value intercept reported to date at the South Zone.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Jennifer Boyle, B.A., LL.B.
President and Chief Executive Officer
Satori Resources Inc.
Mr. Pete Shippen
Chair, Satori Resources Inc.
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/105291