MONTREAL, QUEBEC--(Marketwired - Dec. 12, 2016) - Sama Resources Inc./Ressources Sama Inc. (TSX VENTURE: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 4,050,000 units (the "Units) at a price of CAN$0.10 per Unit, for gross proceeds of $405,000.
Each Unit is comprised of one common share of the Company (a "Share") and one share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereto to purchase for a period of five (5) years one additional Share (a "Warrant Share") at an exercise price per Warrant Share of CAN$0.15.
There were no finder's fees or finder's warrants issue in connection with the Private Placement.
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.
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