Sarama Resources (TSE:SWA) has released an update.
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Sarama Resources Ltd. has announced that their executives and directors will receive a portion of their deferred salaries in company shares, after suspending payments due to financial strain from the loss of an exploration permit. The issuance of these shares is contingent on approvals from both the TSX Venture Exchange and Australian Securities Exchange, with shareholder consent to be sought at the upcoming Annual General Meeting. Meanwhile, the company is focusing on securing the rights to the Cosmo Newbery Gold Project and addressing the permit withdrawal through legal avenues.
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