MONTREAL, QUEBEC--(Marketwired - March 31, 2017) - Sama Resources Inc./Ressources Sama Inc. (TSX VENTURE:SME) ("Sama" or the "Company") is pleased to announce a non-brokered private placement (the "Private Placement") of up to 13,333,333 units (the "Units") at a price of CAN$0.15 per Unit, for total gross proceeds of up to CAN$2,000,000. 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.
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 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 http://www.samaresources.com.
