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Sarama Resources Ltd (ASX:SRR)

ALERT: Price-sensitive ASX Announcement for SRR
Current share price for SRR : $0.030 -0.006 (-16.67%)+
Announcement
Release
20 May 2026 9:59AM
Price at Release
$0.036
Full Release
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Summary
Sarama Resources Ltd announced a private equity placement to raise A$1.5 million, supported by existing institutional and sophisticated investors. The funds will be utilized to advance Sarama's copper-gold exploration projects in New South Wales, Australia, and to support the company's ongoing arbitration claim against the Government of Burkina Faso. The placement involves issuing up to 42,857,715 Chess Depository Interests (CDIs) at A$0.035 per CDI, divided into two tranches, and requires approval from the TSX Venture Exchange. Additionally, the company's board members intend to participate in this placement, categorized as a 'related party transaction' under Canadian regulations. The placement is expected to settle on May 25, 2026, with allotment on May 27, 2026.
Key Points
  • Private equity placement to raise A$1.5 million.
  • Funds to support New South Wales exploration and Burkina Faso arbitration claim.
  • 42,857,715 CDIs to be issued at A$0.035 each.
  • Placement split into two tranches, requiring TSXV approval.
  • Participation by board members classified as 'related party transaction'.
  • Settlement expected on May 25, 2026, with allotment on May 27, 2026.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.