Sun Valley Gold LLC

November 05, 2013 12:28 ET

Sun Valley Gold LLC: Expiry of Warrants of Sarama Resources Ltd.

SUN VALLEY, IDAHO--(Marketwired - Nov. 5, 2013) - Sun Valley Gold LLC ("Sun Valley") announced today that on November 2, 2013 a total of 2,250,000 common share purchase warrants of Sarama Resources Ltd. ("Sarama") beneficially owned by Sun Valley Gold Master Fund, Ltd. (the "Master Fund"), a client account over which it has discretionary trading authority, expired without being exercised. Following the expiry of the warrants, Sun Valley exercises control and direction over an aggregate of 7,600,000 common shares of Sarama and 800,000 common share purchase warrants of Sarama, in each case for and on behalf of the Master Fund.

The 7,600,000 common shares over which Sun Valley exercises control and direction for and on behalf of the Master Fund represent approximately 11.49% of the issued and outstanding common shares of Sarama. If exercised, the 800,000 warrants over which Sun Valley exercises control and direction for and on behalf of the Master Fund would, together with such shares, represent approximately 12.54% of the issued and outstanding common shares of Sarama (after giving effect to the exercise of such warrants, but not the exercise of any other share purchase warrants issued by Sarama).

The sole holders of common shares of the Master Fund are Sun Valley Gold International, Ltd., of which Sun Valley is the Investment Manager, and Sun Valley Gold, L.P., of which Sun Valley is the General Partner. Sun Valley is the investment manager for the Master Fund, and has discretionary trading authority over the securities of Sarama issued to the Master Fund.

Sun Valley and the Master Fund may increase or decrease their ownership of securities of Sarama depending upon future market conditions.

FOR FURTHER INFORMATION, OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED BY SUN VALLEY AND THE MASTER FUND UNDER APPLICABLE SECURITIES LEGISLATION, PLEASE SEE THE CONTACT INFORMATION BELOW.

Contact Information

  • Sun Valley Gold LLC
    Linda J. Kish
    Chief Legal Officer
    (208) 726-2399
    (208) 726-0842 (FAX)