(TheNewswire)
Montreal, Quebec – TheNewswire - May 17, 2022 – SamaResources Inc. (“ Sama ”) (TSXV:SME ) ( OTC:SAMMF)wishes to announce that it has entered into Share PurchaseAgreements (the “ Agreements ”) with various purchasers to sell5,625,000 shares (the “ Common Shares ) of SRG Mining Inc.(“ SRG ”), for an aggregate purchase price (the “ Purchase Price ”) ofCDN$3,937,500 (the “ Transaction ”). The Transaction closed on May17, 2022.
The Transaction is subject to applicable securitieslaws and regulations of the TSX Venture Exchange. Immediately priorto the Transaction, Sama held direct ownership and control of24,805,377 common shares of SRG, representing 21.82% of the issued andoutstanding shares of SRG. After the closing date, Sama will then own19,180,377 common shares of SRG, representing 16.875% of the issuedand outstanding shares of SRG.
The Common Shares were held by Sama for investmentpurposes. Sama may, depending on market and other conditions, increaseor decrease its beneficial ownership of SRG's securities, whether inthe open market by privately negotiated agreements or otherwise,subject to a number of factors, including general market conditionsand other available investment and business opportunities.
The Company has filed an Early Warning Report dated May17, 2022 with respect to the Transaction.
ABOUT SAMA RESOURCES INC.
Sama is a Canadian-based mineral exploration anddevelopment company with projects in West Africa and now inCanada.
On March 19, 2021 Sama formalised a Joint VentureAgreement Ivanhoe Electric Inc, a private mineral exploration companyin which mining entrepreneur Robert Friedland is a significantstakeholder, in order to develop its Ivorian Nickel-Copper and Cobaltproject in Côte d’Ivoire, West-Africa. For more information aboutSama, please visit Sama’s website at http://www.samaresources.com .
FOR FURTHER INFORMATION, PLEASECONTACT:
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 TSXV nor its RegulationServices Provider (as that term is defined in the policies of theTSXV) accepts responsibility for the adequacy or accuracy of thisrelease.
Forward-Looking Statements
Certain of the statements made and informationcontained herein are "forward-looking statements" or“forward-looking information” within the meaning of Canadiansecurities legislation. Forward-looking statements and forward-lookinginformation such as “will”, could”, “expect”,“estimate”, “evidence”, “potential”,“appears”, “seems”, “suggest”, are subject to a variety ofrisks and uncertainties which could cause actual events or results todiffer from those reflected in the forward-looking statements orforward-looking information.
In addition, forward-looking statements andforward-looking information are based on various assumptions. Shouldone or more of these risks and uncertainties materialize, or shouldunderlying assumptions prove incorrect, actual results may varymaterially from those described in forward-looking information orforward-looking statements. Accordingly, readers are advised not toplace undue reliance on forward-looking statements or forward-lookinginformation. Except as required under applicable securitieslegislation, the Company undertakes no obligation to publicly updateor revise forward-looking statements or forward-looking information,whether as a result of new information, future events orotherwise.
Copyright (c) 2022 TheNewswire - All rights reserved.