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Sarama Resources Receives TSXV Approval of Extension to Warrant Term
VANCOUVER, BC--(Marketwired - June 23, 2016) - Sarama Resources Ltd. (the "Company") announces that it has received TSX Venture exchange approval to extend the
About this update from Sarama Resources Ltd.
[{"type":"text","content":"VANCOUVER, BC--(Marketwired - June 23, 2016) - Sarama Resources Ltd. (the \"Company\") announces that it has received TSX Venture exchange approval to extend the expiry date of 10,496,183 warrants that were issued in connection with its mid-2014 non-brokered private placement. The term of the warrants will be extended by one year. All other terms and conditions of the warrants will stay the same. The following warrants issued will be extended by one year as follow: 2,330,100 warrants expiring on May 30, 2016 will now expire May 30, 2017; 7,054,750 warrants expiring on June 12, 2016 will now expire June 12, 2017; 211,333 warrants expiring on June 18, 2016 will now expire June 18, 2017; 900,000 warrants expiring on July 4, 2016 will now expire July 4, 2017. ABOUT SARAMA RESOURCES LTD Sarama Resources Ltd (TSX VENTURE: SWA) is a West African focused gold explorer and developer whose principal focus is in Burkina Faso, where it has had significant exploration success including the definition of 2.1 Moz of gold1,2 at the South Houndé Project. Sarama's flagship properties are situated within the Company's South Houndé Project area in south-west Burkina Faso. Located within the prolific Houndé greenstone belt, Sarama's exploration programs have built on significant early success to deliver an inferred mineral resource estimate of 2.1 Moz gold1,2. Acacia Mining plc is earning up to a 70% interest in the South Houndé Project by satisfying certain conditions, including funding earn-in expenditures of up to US$14 million, over a 4-year earn-in period and may acquire an additional 5% interest, for an aggregate 75% interest in the Project, upon declaration of a minimum mineral reserve of 1.6 million ounces of gold. Sarama is focused on consolidating under-explored landholdings in Burkina Faso and other established mining jurisdictions. Sarama holds a 35% participating interest in the Karankasso Project Joint Venture (\"JV\") which is situated adjacent to the Company's South Houndé Project in Burkina Faso and is a JV between Sarama and Savary Gold Corp. (\"Savary\"). Savary is the operator of the JV and in October 2015, declared a maiden inferred mineral resource estimate of 671,000 ounces of contained gold3,4 at the Karankasso Project JV. Incorporated in 2010, the Company's Board and management team have a proven track record in Africa and a...