Sama Resources Inc.

Sama Resources Inc.

June 28, 2011 11:00 ET

Sama Resources Announces $2,190,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 28, 2011) -


Sama Resources Inc. (TSX VENTURE:SME) ("Sama" or the "Company") is pleased to announce, subject to TSX Venture Exchange ("TSXV") approval, a non-brokered private placement (the "Private Placement") with MMR Exploration Limited ("MMR") (a subsidiary of Minmetals Resources Limited (HKSE 1208)) of 3,650,000 units (the "Units") at a price of CAN$0.60 per Unit, for total gross proceeds of CAN$2,190,000. Each Unit will be comprised of one common share of the Company (a "Share") and one non-transferable share purchase warrant (a "Warrant"). Each Warrant will entitle MMR to purchase for a period of one year (the "Expiry Date") one additional common share of the Company (a "Warrant Share") at an exercise price per Warrant Share as follows:

1. $0.80 if the Warrant is exercised during the first 6 months; and

2. $0.90 if the Warrant is exercised during the next 6 months until the Expiry Date.

The subscription price per unit of $0.60 represents a 50% premium to the last closing price of the Company's common shares on the TSXV of $0.40.

The Company has also agreed to grant to MMR a pre-emptive right pursuant to which, for so long as MMR holds any equity interest in the Company on a fully-diluted basis, it will have the right to participate in any future equity private placement or public offering of the Company (an "Offering") to allow it to maintain the same percentage interest in the Company after completion of the Offering (assuming the conversion or exchange of any convertible securities issued under the Offering) as existed immediately prior to completion of the Offering.

Minmetals Resources Limited (HKSE 1208) is an international upstream base metals company. It is one of the world's largest producers of zinc as well as a substantial producer of copper, lead, gold and silver. Minmetals Resources Limited currently has mining operations located in Australia and Asia and a large portfolio of exploration and development projects in Australia, Asia and North America. Its operations include the Century mine in Queensland, Sepon copper and gold operations in Laos, Golden Grove underground base and precious metals mine in Western Australia and the polymetallic Rosebery mine in Tasmania.

No finders' fees or commissions will be payable. Net proceeds from the Private Placement will be used for exploration purposes and general working capital requirements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Sama Resources Inc.
    Dr. Marc-Antoine Audet
    President and CEO
    (514) 726-4158

    Hamza Thindal Capital Corporation Inc.
    Kam Thindal
    Investor Relations
    (604) 566-9236
    Cell: (604) 488-9875

    Sally Cox
    Group Manager, Communications
    (61) 417 144 524
    Cell: (61) 417 144 524