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Saturn Minerals Inc. Announces Private Placement for Saskatchewan Oil and Gas Exploration Project

August 20, 2014



ENP Newswire - 20 August 2014

Release date- 16082014 - Vancouver - Saturn Minerals Inc. (TSX.V: SMI) (FSE: SMK) is pleased to announce that it has entered into an exclusive agreement with EMD Financial Inc. in connection with a brokered Private Placement of up to 10,000,000 flow-through units at a price of $0.20 per FT Unit.

Each FT Unit consists of one flow-through common share (the 'FT Shares') and one-half of a non flow-through share purchase warrant.

Each whole NFT Warrant will entitle the holder to purchase one additional non flow-through common share, exercisable at a price of $0.25 per share for a period of 18 months from the date of issue of the NFT Warrant.

The FT Shares will entitle the holder to receive the tax benefits applicable to flow-through shares, in accordance with provisions of the Income Tax Act (Canada). The NFT Warrants are subject to an accelerated expiry if, at any time after an initial 4 month hold period expires, the closing price of Saturn's common shares on the TSX Venture Exchange (the 'TSXV') exceeds $0.35 for any 20 consecutive trading days, in which event the holder will be given notice that the Warrants will expire 30 days following the date of such notice.

The NFT Warrants may be exercised by the holder during the 30-day period between the notice and the expiration of the Warrants. All securities issued will be subject to a four-month hold period and the approval of the TSXV.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities. Saturn has agreed to pay the agent a finder's fee of 6% in connection with this Private Placement. Additional finder's fees to third parties may be payable in accordance with the policies of the TSXV.

Proceeds from the Private Placement will applied to further exploration of Saturn's Bannock Creek and Little Swan Oil & Gas properties in Saskatchewan.

Contact:

Saturn Minerals Inc.

Suite 312 - 744

West Hastings Street

Vancouver, BC V6C 1A5

Canada

Tel: +1 (604) 685-6989

Fax: +1 (604) 685-6961


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Source: ENP Newswire


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