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Strategies & Market Trends : Dino's Bar & Grill
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To: Goose94 who wrote (5710)5/12/2014 9:36:39 AM
From: Goose94Read Replies (1) of 202988
 
Sarama Resources (SWA-V) May 12, '14 is conducting a private placement to raise gross proceeds of up to $3-million. The Private Placement involves the issuance of up to 20,000,000 units (the "Units") at a price of $0.15 per Unit. Each Unit is comprised of one common share of the Company and one-half of one common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder to purchase one common share of the Company for $0.20 at any time prior to two years after the issue date.

The Private Placement will be conducted on a non-brokered basis to institutional and accredited investors under applicable securities laws and is subject to regulatory approvals including the approval of the TSX Venture Exchange. The Company will close the placement on May 24, 2014 and may pay a finder's fee to selected parties. The Company expects that approximately one-third of the Private Placement will be subscribed for by existing shareholders. Management and directors of the Company have indicated an intention to subscribe for at least 10% of the Private Placement. There is no minimum amount to be raised in the Private Placement.

The proceeds of the Private Placement will be used principally to fund diamond drilling at the Company's properties in Liberia, oxide focussed air core drilling at the Company's South Hounde' Project in Burkina Faso, an air core scout drilling program at the company's Kandiole' Sud permit which is adjacent to Papillion Resources' Fekola Gold Project in Mali and for general working capital purposes.
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