Sarama announces private placement to raise $3m for African projects
JOHANNESBURG (miningweekly.com) – West Africa-focused gold explorer Sarama Resources has embarked on a private placement to raise up to $3-million through the issuance of up to 20-million units at a price of $0.15 apiece.
Each unit would comprise one common share of the company and 50% of one common share purchase warrant, which would entitle the holder to buy one common share of the company for $0.20 within two years of the issue date.
The proceeds of the placement would be principally used to fund diamond drilling at the company’s properties in Liberia, oxide-focused air core drilling at the South Hounde’ project, in Burkina Faso, an air core scout drilling programme at the Kandiole’ Sud permit, in Mali, and for general working capital purposes.
The placement, which would close on May 24, would be conducted on a nonbrokered basis to institutional and accredited investors under applicable securities laws and remained subject to regulatory approvals, including the approval of the TSX Venture Exchange.
Sarama, which boasted “substantial” land-holdings in Burkina Faso, Liberia and Mali, said in a statement on Monday that it expected about one-third of the placement to be subscribed for by existing shareholders, adding that there was no minimum amount to be raised.
Management and directors of the company had indicated an intention to subscribe for at least 10% of the issue.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...
VISIT SHOWROOM
Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
