Jan 22, 2009
Saturn Minerals Closes Financings
Vancouver -- Thursday, January 22, 2009 -- Saturn Minerals Inc. -- SMI: TSX.V ("Saturn" or the "Company"), announces that further to the Company's news release dated December 19, 2008, Saturn has closed the non-brokered private placement (the "Financing") with Loeb Aron & Company ("Loeb Aron"). The private placement consists of the issuance of 1,000,000 units at $0.05 per unit. Each unit consists of one common share and one non-transferable share purchase warrant ("warrant"). Each warrant will entitle the holder to purchase one additional common share of Saturn at a price of $0.10 per share until January 13, 2011.
Loeb Aron is a London based firm specializing in mining finance authorized and regulated by the FSA and a Member of the London Stock Exchange and of Plus Markets.
All securities issued pursuant to the Financing have a hold period expiring May 14, 2009.
The Company has also closed its non-brokered flow-through share private placement (the "Placement") announced on December 22, 2008. The Placement consists of the issuance of 2,500,000 flow-through shares of Saturn at a price of $0.10 per share. The shares issued pursuant to the Placement have a hold period expiring May 15, 2009.
For more information, please contact
Saturn Minerals Inc.
(604) 687-1327 (FAX)
SATURN MINERALS INC.
President & Chief Executive Officer
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