Apr 15, 2011
Saturn Closes Private Placement
Vancouver, April 15, 2011 -- Saturn Minerals Inc. -- SMI: TSX.V ("Saturn" or the "Company") announces that further to the Company's news release dated March 9, 2011, the Company received TSX-V approval on April 15, 2011 and closed its non-brokered private placement with 1,875,000 flow-through units (the "FT Units") an 1,248,125 non flow-through units (the "NFT Units") for Gross proceeds of $499,700.
Each NFT Unit and FT Unit consisted of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the Company at an exercise price of $0.20 for a period of 24 months from the date of issue of the warrant.
All securities issued will be subject to a four-month hold period. Proceeds from the flow-through portion of the Placement will be applied to Saturn's exploration activities on the Company's Saskatoba Coal Project and the proceeds from the non flow-through portion of the Placement will be applied to general working capital.
About Saturn Minerals Inc.
Saturn Minerals Inc. (SMI: TSX.V) is a junior Canadian energy & resources company advancing a portfolio of energy and resource assets in Saskatchewan and Manitoba. The Company has made two bituminous coal discoveries at its Saskatoba Project since 2009, including one of the thickest coal seams encountered in Canada at 88 metres thickness. Saturn continues to build strategic relationships throughout Saskatchewan to pursue new opportunities and advance current projects in the eastern regions of the Western Canadian Sedimentary Basin.
SATURN MINERALS INC.
s/ "Stan Szary"
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
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