Sarama Resources Announces A$2 Million Equity Placement

Sarama Resources Ltd. has announced a A$2 million equity placement to fund exploration, administration, and general capital. The placement will see the issuance of up to 66,666,666 Chess Depository Interests (CDIs) at A$0.03 per CDI, reflecting significant discounts to recent trading values. Existing shareholders and professional investors have shown considerable support for this offer.

The issue will be executed in two tranches, both pending shareholder approval and TSXV clearance. Additionally, Sarama will settle deferred executive salaries and fees with CDIs and options, also requiring shareholder approval. Broker Ventnor Securities Pty Ltd. will manage the placement, receiving broker options and fees.

Sarama's executives have opted not to subscribe in this initial round, choosing instead to receive a part of their compensation in shares. The arrangement remains contingent on regulatory approvals.