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Sarama Resources Ltd (ASX:SRR)

ALERT: Price-sensitive ASX Announcement for SRR
Current share price for SRR : $0.030 -0.003 (-9.09%)+
Announcement
Release
29 May 2026 1:58PM
Price at Release
$0.033
Full Release
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Summary
Sarama Resources Ltd announced the completion of Tranche 1 of its A$1.5 million equity placement, raising A$1,418,250 through the issuance of 40,521,427 CHESS Depository Interests at A$0.035 each. The raised funds will support the company's exploration projects and general working capital, including pursuing a US$242 million damages claim against the Government of Burkina Faso. Tranche 2, involving issuance to directors, is pending shareholder approval. The placement complies with Canadian regulations, exempting it from formal valuation and minority approval. Securities are restricted from U.S. sale unless registered or exempt.
Key Points
  • Sarama Resources Ltd completed Tranche 1 of a previously announced A$1.5 million equity placement.
  • Tranche 1 raised A$1,418,250 with the issuance of 40,521,427 CHESS Depository Interests (CDIs) at A$0.035 per CDI.
  • Tranche 2 will involve 2,335,715 CDIs issued to directors, subject to shareholder approval.
  • Funds will be used for exploration projects and general working capital.
  • A finder’s fee of A$28,692 was paid in connection with Tranche 1.
  • Tranche 1 is subject to a four-month hold period under the TSX Venture Exchange for management, but not for other subscribers.
  • The placement is exempt from formal valuation and minority approval requirements under Canadian regulations.
  • The securities are not registered under the U.S. Securities Act and cannot be sold in the U.S. without registration or an exemption.
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.