Sama Resources closes $2.07M first tranche

Montreal (pcJ News Briefs) – Sama Resources Inc./Ressources Sama Inc. (TSX-V: SME) has completed the first tranche of its previously announced increased non-brokered private placement by issuing 13,807,161 units at $0.15 per unit for gross proceeds of $2,071,074.95

Each unit will be comprised of one common share and one share purchase warrant. Each whole warrant will entitle the holder thereto to purchase for a period of sixty months one additional share at an exercise price of $0.20 per share.

Net proceeds will be used for the advancement of company’s exploration and development programs and for general working capital purposes.

Sama Resources is a Canadian-based mineral exploration and development company with projects in West Africa.

photo credit: Sama Resources