Sarama Resources Finalizes Tranche 2 Options Placement

Sarama Resources Ltd. has completed the second tranche of its A$2m equity placement. This final tranche included 16,666,666 unlisted options and 14,000,000 broker options, each exercisable at A$0.09, expiring by November 2028. The issuance followed shareholder approval during a meeting on February 4, 2025.

The first tranche raised A$2,000,000 with 66,666,666 CDIs at A$0.03 each. Institutional and sophisticated investors subscribed to Tranche 2. The funds will go towards exploration activities and general expenses; no proceeds will be used for payments to non-arm's length parties. Final TSX Venture Exchange approval is pending.

No fees were paid for Tranche 2, and the Placement is not subject to Canadian hold periods. Sarama’s Board and management did not participate in the CDI subscription.