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
Email: [email protected]
OR
Mr. Matt Johnston
Tel: (604) 443-3835
Toll Free: 1 (877) 792-6688, Ext. 4
Email: [email protected]
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.
Forward Looking Statements