Sama Resources Inc.
TSX VENTURE : SME

Sama Resources Inc.

December 19, 2014 17:42 ET

Sama Resources Closes First Tranche of Equity Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 19, 2014) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Sama Resources Inc./Ressources Sama Inc. (TSX VENTURE:SME) ("Sama" or the "Company") is pleased to announce the closing of the first tranche of its previously announced non-brokered private placement (the "Private Placement") with International Finance Corporation ("IFC") and others of 5,811,092 units (the "Units"). The Units were issued at a price of CAN$0.22 per Unit, for total gross proceeds of CAN$1,278,440. Each Unit is comprised of one common share of the Company (a "Share") and one share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase for a period of 24 months from the date of issuance (the "Expiry Date"), one additional Share (a "Warrant Share"), at an exercise price of CAN$0.28 per Warrant Share until the Expiry Date.

The Company paid a cash commission of approximately $990 in finder's fees and issued 4,500 finder's warrants ("Finder's Warrants") in connection with the Private Placement. Each Finder's Warrant will entitle the holder thereto to purchase for period of twenty-four (24) months one additional share at an exercise price of CAN $0.28.

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. The Shares, Warrants and Finder's Warrants issued pursuant to the Offering will be subject to a statutory four-month hold period from the date of closing of the Private Placement.

Net proceeds from the Private Placement will be used for the advancement of the Company's exploration and development programs and for general working capital purposes related thereto.

Sama is a Canadian-based mineral exploration and development company with projects in West Africa. For more information about Sama, please visit Sama's website at http://www.samaresources.com.

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

Forward Looking Statements

This release contains forward looking statements. More particularly, this release contains statements concerning the Private Placement. Although Sama believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because Sama can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Additional information on these and other factors that could affect Sama's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com).

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