Sama Resources Announces Completion of Warrant Acceleration
MONTREAL, Jan. 09, 2018 (GLOBE NEWSWIRE) -- Sama Resources Inc. (“Sama” or the "Company") (TSX Venture Exchange:SME) today announced, further to its news release dated November 29, 2017, that it has successfully completed the acceleration of its share purchase warrants (the “Warrants”) issued under the non-brokered private placement announced on April 7, 2017. Of the 18,778,928 Warrants, 18,776,528 were exercised at a price of $0.20 per Warrant, for gross proceeds of $3,755,306. The remaining 2,400 Warrants are cancelled. The Company is well-positioned to continue its exploration and development activities.
Dr. Marc-Antoine Audet, President and CEO, stated, “We are pleased with the strong show of support from our shareholders through the exercise of the warrants and over $3.7 million in proceeds. The additional capital will ensure the company is well funded to advance its exploration projects to the next stage and follow-up on the encouraging results received to-date."
About Sama Resources Inc.
Sama is a Canadian-based mineral exploration and development company with projects in West Africa. On October 23, 2017, Sama announced that it had entered into a binding term sheet in view of forming a strategic partnership with HPX TechCo Inc., for the development of its Côte d’Ivoire Nickel-Copper and Cobalt project in Côte d’Ivoire, West-Africa. For more information about Sama, please visit Sama’s website at http://www.samaresources.com.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Sama Resources Inc./RESSOURCES SAMA INC.
Dr. Marc-Antoine Audet, President and CEO
Tel: (514) 726-4158
OR
Mr. Matt Johnston, Corporate Development Advisor
Tel: (604) 443-3835
Toll Free: 1 (877) 792-6688, Ext. 5
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS
Certain of the statements made and information contained herein are "forward-looking statements" or “forward-looking information” within the meaning of Canadian securities legislation. Forward-looking statements and forward-looking information are subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking statements or forward-looking information, including, without limitation, the availability of financing for activities, risks and uncertainties relating to the interpretation of electrochemical characterization, drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, metal price fluctuations, environmental and regulatory requirements, availability of permits, escalating costs of remediation and mitigation, risk of title loss, the effects of accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration or development, the potential for delays in exploration or development activities, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, expectations and beliefs of management and other risks and uncertainties.
In addition, forward-looking statements and forward-looking information are based on various assumptions. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information or forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.
