Sanatana Announces Proposed Name Change and Grants Stock Options
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 18, 2011) - Sanatana Diamonds Inc. ("Sanatana" or the "Company") (TSX VENTURE:STA) has granted incentive stock options to directors, officers and an employee of the Company to purchase up to 2,950,000 common shares of the Company at a price of $0.30 per share, exercisable for a period of five years. The options are being granted pursuant to the terms of the Company's stock option plan and are subject to regulatory approval. Following this grant, the Company has 7,760,000 stock options outstanding.
The Company has called a special meeting of shareholders to be held on April 5, 2011 seeking, among other things, shareholder approval to change the Company's name to "Sanatana Resources Inc."
About the Company
Sanatana Diamonds Inc. is an exploration stage company that has recently optioned a gold exploration property in Ontario (such transaction subject to TSX Venture Exchange approval) that complements its existing properties in the Northwest Territories and Yukon. With an experienced management team and board of directors, Sanatana has the skills required to identify, develop and fund economic mineral properties. Sanatana is based in Vancouver and is listed on the TSX Venture Exchange (TSX VENTURE:STA).
Cautionary Statement Regarding "Forward-Looking" Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond Sanatana's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
FOR FURTHER INFORMATION PLEASE CONTACT: Mr. Peter Miles
Sanatana Diamonds Inc.
President and Chief Executive Officer
604-408-6680 or Toll Free: 1-877-881-6680
604-408-6682 (FAX)
investor@sanatanadiamonds.com
http://www.sanatanadiamonds.com/">www.sanatanadiamonds.com
