SME Sama Resources Inc

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES


Sama Resources Inc./Ressources Sama Inc. (TSX VENTURE:SME) ("Sama" or the
"Company") is pleased to announce the closing of the first tranche of its
previously announced non-brokered private placement (the "Private Placement") by
issuing 3,888,899 units (the "Units) at a price of CAN$0.18 per Unit, for gross
proceeds of $700.001.82.


Each Unit is comprised of one common share of the Company (a "Share") and
one-half of one share purchase warrant (a "Warrant"). Each whole Warrant will
entitle the holder thereto to purchase for a period of twenty-four (24) months
one additional Share (a "Warrant Share") at an exercise price per Warrant Share
of CAN$0.20.


The Company may pay finders' fees in cash and issue finder's warrants. All
securities issued under the Private Placement will be subject to a hold period
of four months and one day from the closing date. The Private Placement and
finders' fees are subject to final regulatory approval.


Net proceeds from the Private Placement will be used for the advancement of the
Company's exploration and development programs and for general working capital
purposes related thereto.


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.


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.


Forward Looking Statements

This release contains forward looking statements. More particularly, this
release contains statements concerning the anticipated Private Placement.
Although Sama believes that the expectations reflected in these forward looking
statements are reasonable, undue reliance should not be placed on them because
Sama can give no assurance that they will prove to be correct. Since forward
looking statements address future events and conditions, by their very nature
they involve inherent risks and uncertainties. The closing of the Private
Placement could be delayed if Sama is not able to obtain the necessary
regulatory and stock exchange approvals on the timelines it has planned. The
Private Placement will not be completed at all if these approvals are not
obtained or some other condition to the closing is not satisfied. Accordingly,
there is a risk that the Private Placement will not be completely sold,
completed within the anticipated time or at all. Additional information on these
and other factors that could affect Sama's operations and financial results are
included in reports on file with Canadian securities regulatory authorities and
may be accessed through the SEDAR website (www.sedar.com).


FOR FURTHER INFORMATION PLEASE CONTACT: 
Sama Resources Inc.
Dr. Marc-Antoine Audet, President and CEO
(514) 726-4158
ceo@samaresources.com


Sama Resources Inc.
Mr. Matt Johnston
(604) 443-3835 or Toll Free: 1 (877) 792-6688, Ext. 4
info@samaresources.com
www.samaresources.com

Sama Resources (TSXV:SME)
Historical Stock Chart
From May 2024 to Jun 2024

Sama Resources (TSXV:SME)
Historical Stock Chart
From Jun 2023 to Jun 2024