Sarama Resources has increased its previously announced non-brokered private placement offering to up to 10,000,000 units of the Company at C$0.21 per Unit for gross proceeds of up to C$2,100,000.
As previously announced, each Unit will be comprised of one common share of the Company and one-half of one common share purchase warrant. Each Warrant will permit its holder to purchase one common share of the Company at a price of C$0.28 per common share for a period of 3 years after issuance.
The Company’s President and CEO, Andrew Dinning, commented:
“We are very pleased with the strong investor support and even though there is a high level of demand, the Company does not intend to further upsize the private placement and will not be accepting any further subscriptions. The rapid take up of this placement further supports our view that Sarama remains one of the best value propositions in the market.”