Business
Sarama Resources Announces Private Equity Placement of A$1.5m
PERTH, AUSTRALIA AND VANCOUVER, CANADA / ACCESS Newswire / May 20, 2026 / Sarama Resources Ltd. ("Sarama" or the "Company") (TSXV:SWA)(ASX:SRR) is pleased to announce it has received binding commitments for a private placement to raise A$1.5 million ...
About this update from Sarama Resources Ltd.
[{"type":"text","content":"PERTH, AUSTRALIA AND VANCOUVER, CANADA / ACCESS Newswire / May 20, 2026 / Sarama Resources Ltd. ("Sarama" or the "Company") (TSXV:SWA)(ASX:SRR) is pleased to announce it has received binding commitments for a private placement to raise A$1.5 million (before costs) (the "Placement").","length":313,"tagName":"p"},{"type":"text","content":"The Placement was well supported by existing institutional, professional and sophisticated investors. Funds raised will be used to advance the Company's copper-gold exploration projects in New South Wales, Australia, and for general working capital purposes as the Company progresses its US$242 million (plus interest) damages claim against the Government of Burkina Faso (the "Claim").","length":400,"tagName":"p"},{"type":"text","content":"The Claim is being pursued through arbitration before the International Centre for Settlement of Investment Disputes ("ICSID"), an organisation of the World Bank Group and is funded through a US$4.4 million non-recourse litigation funding facility, with legal representation provided by Boies Schiller Flexner (UK) LLP, a leading international law firm with extensive experience in investor-state arbitration and mining-sector disputes. The arbitration proceedings continue to advance as anticipated, with several key procedural milestones achieved, including confirmation of the Procedural Timetable, receipt of memorials and scheduling of the Merits Hearing for February 2027.","length":688,"tagName":"p"},{"type":"text","content":"Sarama's Executive Chairman, Andrew Dinning commented:","length":58,"tagName":"p"},{"type":"text","content":""We are very pleased with the support the Placement received, particularly from existing shareholders. The Placement ensures the Company is funded to advance its NSW exploration projects, while also maintaining sufficient working capital to support ongoing progress of the Company's arbitration claim against the Government of Burkina Faso. We are also pleased that the arbitration process continues to advance as expected, with several key milestones achieved during the period, including importantly the hearing date now being set for February next year."","length":571,"tagName":"p"},{"type":"text","content":"Private Equity Placement","length":24,"tagName":"p"},{"type":...