Montreal, Quebec, May 16, 2014 – Sama Resources Inc./Ressources Sama Inc. (TSX.V: SME) (“Sama” or the “Company“) is pleased to announce the closing of the first tranche of its previously announced non-brokered private placement (the “Private Placement“) by issuing 3,888,899 units (the “Units) at a price of CAN$0.18 per Unit, for gross proceeds of $700.001.82.
Each Unit is comprised of one common share of the Company (a “Share“) and one-half of one share purchase warrant (a “Warrant“). Each whole Warrant will entitle the holder thereto to purchase for a period of twenty-four (24) months one additional Share (a “Warrant Share“) at an exercise price per Warrant Share of CAN$0.20.
- The Company may pay finders’ fees in cash and issue finder’s warrants. All securities issued under the Private Placement will be subject to a hold period of four months and one day from the closing date. The Private Placement and finders’ fees are subject to final regulatory approval.
- Net proceeds from the Private Placement will be used for the advancement of the Company’s exploration and development programs and for general working capital purposes related thereto.
Sama is a Canadian-based mineral exploration and development company with projects in West Africa. For more information about Sama, please visit Sama’s website at www.samaresources.com.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Sama Resources Inc.
Dr. Marc-Antoine Audet, President and CEO
Tel: (514) 726-4158
Mr. Matt Johnston
Tel: (604) 443-3835
Toll Free: 1 (877) 792-6688, Ext. 4
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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