Business
Sarama Resources Provides Further Update on Financing Activities
/NOT FOR DISTRIBUTION TO A UNITED STATES NEWSWIRE OR FOR DISSEMINATION IN THE UNITED ST...
About this update from Sarama Resources Ltd.
[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION TO A UNITED STATES NEWSWIRE OR FOR DISSEMINATION\n IN THE UNITED STATES/\n\n\nVANCOUVER, June 27, 2014 /CNW/ - Sarama Resources Ltd. (the \"Company\" or \"Sarama\") is pleased to announce that the aggregate gross proceeds of the\n further private placement (the \"Subsequent Financing\") of Units at $0.15, which was announced on June 20, 2014, has\n increased from $150,000 to up to $270,000.  The Company now expects to\n close the Subsequent Financing on or around June 30, 2014.  Each Unit\n consists of one common share and one half of one common share purchase\n warrant. Each whole share purchase warrant is exercisable into one\n common share for a period of two years at a price of $0.20 per share.\n\n\nThe securities issued in connection with the Subsequent Financing will\n be subject to a four-month and one day hold period in accordance with\n relevant Canadian Securities Laws.\n\n\nThe proceeds of the recent private placement and the Subsequent\n Financing will be used principally to fund diamond drilling at the\n Company's properties in Liberia, oxide-focussed air core drilling at\n the Company's South Houndé Project in Burkina Faso, an air core scout\n drilling program at the Company's Kandiolé Sud permit, which is\n adjacent to Papillion Resources' Fekola Gold Project in Mali, and for\n general working capital purposes.\n\n\nThese securities have not been and will not be registered under the\n United States Securities Act of 1933, as amended, (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within\n the United States unless registered under the U.S. Securities Act and\n applicable state securities laws or an exemption from registration is\n available. This announcement does not constitute an offer to sell or a\n solicitation of an offer to buy any of the securities in this Private\n Placement within the United States or to, or for the account or benefit\n of, U.S. Persons (as defined under Regulation S under the U.S.\n Securities Act).\n\n\nFor further information on the Company's activities, please contact:\n\n\nAndrew Dinning or Paul Schmiede \ne: [email protected]\nt: +61 (0) 8 9363 7600\n\n\nNeither TSX Venture Exchange nor its Regulation Services Provider (as\n that term is defined in policies of the TSX Venture Exchange) a...