MONTREAL, QUEBEC--(Marketwired - April 7, 2017) - Sama Resources Inc./Ressources Sama Inc. (TSX VENTURE:SME) ("Sama" or the "Company") is pleased to announce that it has increased the size of its previously announced private placement, disclosed in a press release dated March 31, 2017, from 13,333,333 units to up to 17,333,333 units (the "Units") at a price of CAN$0.15 per Unit, for total gross proceeds of up to CAN$2,600,000 (the "Increased Offering").
Each Unit will be comprised of one common share of the Company (a "Share") and one share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder thereto to purchase for a period of sixty (60) months one additional Share (a "Warrant Share") at an exercise price per Warrant Share of CAN$0.20 provided that in the event that the closing price of the Corporation's common shares on any stock exchange is CAD$0.30 or greater per common share during a 20 consecutive trading day period at any time after the Closing Date, the Warrants will expire, at the sole discretion of the Corporation, 30 days after the date on which the Corporation provides notice of such fact to the holders thereof.
The Company may pay finders' fees in cash and issue finder's warrants. All securities issued under the Increased Offering will be subject to a hold period of four months and one day from the closing date. The Increased Offering and finders' fees are subject to regulatory approval.
Net proceeds from the Increased Offering 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 http://www.samaresources.com.
