MONTREAL, QUEBEC--(Marketwired - Dec. 22, 2016) - Sama Resources Inc./Ressources Sama Inc. (TSX VENTURE:SME) ("Sama") and Section Rouge Media Inc. (TSX VENTURE:SRO) ("Section") are pleased to announce that Section has filed its filing statement dated December 22, 2016 on SEDAR in connection with its previously-announced reverse take-over, consisting of the acquisition of 100% of the shares of Sama Resources Guinea SARL ("SRG"), a wholly-owned subsidiary of Sama (the "Transaction"). SRG's principal asset is exploration permit N°2013/4543/MMG/DNM, known as the Lola Graphite Project, located near the town of Lola in eastern Republic of Guinea. The closing of the Transaction is expected to occur on or about December 31, 2016.
For more information on the Transaction and Section's concurrent private placement, please see Sama and Section's joint news releases dated July 5, 2016, August 9, 2016 and November 4, 2016.
About Sama Resources Inc./Resources Sama Inc.
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 www.samaresources.com.
About Section Rouge Media Inc.
Section Rouge is specialized in producing publications related to agricultural machineries.
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.
This news release discusses items that may constitute forward-looking statements within the meaning of securities laws and that involve risks and uncertainties. Such statements include those with respect to the completion of the Transaction. Although Sama and Section believe in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in such forward-looking statements are based on reasonable assumptions, they can give no assurances that those expectations will be achieved and actual results may differ materially from those contemplated in the forward-looking statements and information. Such assumptions, which may prove incorrect, include the following: (i) the Transaction will obtain all required regulatory approvals and any applicable shareholder approvals in a timely fashion, (ii) the Resulting Issuer's management will not identify and pursue other business objectives following the Transaction, (iii) no material obstacles, technical or otherwise, will hinder the operations of the Resulting Issuer following the Transaction, and (iv) the price of graphite will remain sufficiently high and the costs of advancing the Lola Graphite property sufficiently low so as to permit the Resulting Issuer to implement its business plans in a profitable manner. Factors that could cause actual results to differ materially from expectations include (i) the failure of the Resulting Issuer to make effective use of their available funds following the Transaction, (ii) the failure of the drilling projects of the Resulting Issuer for technical, logistical, labour-relations or other reasons, (iii) the inability of Sama or Section to obtain the necessary approvals for the Transaction, (iv) a decrease in the price of graphite below what is necessary to sustain the operations of the Resulting Issuer, (v) an increase in the operating costs of the Resulting Issuer above what is necessary to sustain its operations, (vi) accidents, labour disputes or the materialization of similar risks, (vii) a deterioration in capital market conditions that prevents the Resulting Issuer from raising the funds that it requires on a timely basis, and (viii) an inability or unwillingness of Sama or Section to complete the Transaction for whatever reason. These factors and others are more fully discussed in Sama and Section's filings with Canadian securities regulatory authorities available at www.sedar.com. Actual results may vary from the forward-looking information and neither Sama nor Section assume any obligation to update any forward-looking statement except as required by applicable law.