Company sells equity units to International Finance, MMR Exploration
By Devika Patel
Knoxville, Tenn., Nov. 15 - Sama Resources Inc. said it increased a non-brokered private placement of units to C$1.64 million from C$1.36 million. The deal priced Nov. 10.
The company will now sell 5.2 million units of one common share and one warrant at C$0.315 per unit.
Each four-year warrant will be exercisable at C$0.4725. The strike price is a 38.97% premium to the Nov. 7 closing share price of C$0.34.
International Finance Corp. will invest C$1.25 million and MMR Exploration Ltd. will invest C$107,785.
Proceeds will be used for exploration and general working capital.
The resource company is based in Vancouver, B.C.
| Issuer: | Sama Resources Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,638,000
|
| Units: | 5.2 million
|
| Price: | C$0.315
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Four years
|
| Warrant strike price: | C$0.4725
|
| Agent: | Non-brokered
|
| Investor: | International Finance Corp. (for C$1.25 million), MMR Exploration Ltd. (for C$107,785)
|
| Pricing date: | Nov. 10
|
| Upsized: | Nov. 15
|
| Stock symbol: | TSX Venture: SME
|
| Stock price: | C$0.36 at close Nov. 10
|
| Market capitalization: | C$19.46 million
|
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